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How do you claim a $267,000,000 prize?

Topic closed. 3 replies. Last post 11 years ago by Amazing Grace.

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United States
Member #36879
April 8, 2006
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Posted: April 8, 2006, 11:43 am - IP Logged

Imagine you are as lucky as the guy in Michigan who won such an amount...

How do you go about claiming this huge a prize? I mean can you imagine the security issues that immediately would come up to grab your attention? So, just like so many of us, I am interested to know what a proper, well thought out strategy would be. I mean, you don't walk up to the claiming office and just hand out your $267M ticket - the only document in existence that indicates you are the winner - to the first lottery employee behind the counter, do you?

Then there are other issues.  Anonimity, for instance. How many of you would think it smart to keep a low profile? But just how feasible is that, how legally enforceable? And, of course, you want to minimize the taxes on your winnings, and set up some legal protection against claims against your newly acquired wealth... 

So, I was wondering if any of you has ever thought about all this and come up with some good answers.  Any references to website and/or printed materials dealing with these issues would be, naturally, very much appreciated.

Nannyn 

 

    LOTTOMIKE's avatar - Lottery-063.jpg
    Tennessee
    United States
    Member #7853
    October 15, 2004
    11338 Posts
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    Posted: April 8, 2006, 5:41 pm - IP Logged

    you get a real good lawyer i guess,lol

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      Posted: April 10, 2006, 7:34 pm - IP Logged

      you get a real good lawyer i guess,lol


      Sure, that's the obvious thing to do once you have a winning ticket...
      What's for sure, though, I am not going to hire an attorney just
      to find out.... beforehand.

      I would like to learn more about this, and I'm sure most of those
      reading this post feel the same way. I think it would be nice if
      someone knowledgeable were to share this type of info here.

      I just read an interesting news story mentioning that the lucky one
      from Lyons, Ohio went about claiming his prize ($270M) by setting up
      a so-called BLIND TRUST for anonimity purposes (I don't know much
      about this specific type and how it works in conjunction with a lottery
      claim, though it seems a smart thing to do if it really works as it
      apparently does...)

      Here is an excerpt of that article (which can be found at
      http://www.lotterypost.com/thread/132166):

      "Other, more life-changing realities confront all such winners,
      especially when one has bought a ticket worth $270 million,
      as someone did last month in little Lyons, Ohio. That winner,
      who formed a blind trust to claim the money and remains
      anonymous, is the state's largest winner ever."

      So, can anyone give more details, or good sources for finding out
      this sort of information?

        Amazing Grace's avatar - lion
        rainbow lake
        Canada
        Member #25177
        November 2, 2005
        10764 Posts
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        Posted: April 10, 2006, 10:38 pm - IP Logged

        you go with a smile. dont tell anyone you have the ticket though.