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POLL: Sharing jackpot with children

Topic closed. 25 replies. Last post 10 years ago by BaristaExpress.

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If you won a jackpot how would you distribute the wealth to your children?

Immediately [ 13 ]  [24.53%]
After they attend college [ 5 ]  [9.43%]
After they marry [ 0 ]  [0.00%]
As an inheritance [ 2 ]  [3.77%]
Progressively [ 17 ]  [32.08%]
I wouldn't share it with my children [ 2 ]  [3.77%]
Who? [ 6 ]  [11.32%]
Linda Kollmeyer [ 4 ]  [7.55%]
Other- explain if you will [ 4 ]  [7.55%]
Total Valid Votes [ 53 ]  
Discarded Votes [ 2 ]  
Coin Toss's avatar - shape barbed.jpg
Zeta Reticuli Star System
United States
Member #30470
January 17, 2006
10351 Posts
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Posted: January 11, 2007, 2:30 am - IP Logged

The Missouri lottery put this poll in the e-mail they send out, I just thought it would be an intersting one to post here. (I added a few choices)

Enjoy.  

Those who run the lotteries love it when players look for consistency in something that's designed not to have any.

Lep

There is one and only one 'proven' system, and that is to book the action. No matter the game, let the players pick their own losers.

    justxploring's avatar - villiarna
    Wandering Aimlessly
    United States
    Member #25360
    November 5, 2005
    4461 Posts
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    Posted: January 11, 2007, 5:58 am - IP Logged

    other - I don't have any children!  I hope a parent would want to share the wealth, at least the $12,000/yr per person tax exempt gift.  I think it would all depend on the prize won.  I don't think parents have an obligation to automatically support their grown children, but if you love people I would hope you'd want to help make their lives a little more comfortable.

    If someone in his 80s or 90s won, it would be nice if he trusted his children enough to let them claim the prize.  Although he wasn't very old, one of the largest FL jackpots won in Dec 2005 was $46M by a man who gave the ticket to his daughter, a college student. He had several children, but chose her. He said she was the most practical and trusted her to distribute it evenly. The article said that her siblings weren't upset at all, but I find that difficult to believe. By the way, she took the 30 year annuity.

      Avatar
      New Member
      Ohio
      United States
      Member #4163
      March 27, 2004
      6 Posts
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      Posted: January 11, 2007, 7:03 am - IP Logged

      I voted for Immediately for my children are out of college and are responsible adult. If I won big I would defiantly give them money,how much does a person need. They are 25 and 23 and if I could make there life easier for them I am all for that.Isn't that what parents are supposed to do help there children? StanOH

        weshar75's avatar - Lottery-042.jpg
        Mcminnville, Oregon
        United States
        Member #3013
        December 13, 2003
        3051 Posts
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        Posted: January 11, 2007, 9:38 am - IP Logged

        I do not have children so the Powerball jackpot I win on Saturday night will go to myself and my brother's wife who buys a fractional share of my ticket each drawing.  So two people and no kids.-weshar75

          JADELottery's avatar - MeAtWork 03.PNG
          The Quantum Master
          West Concord, MN
          United States
          Member #21
          December 7, 2001
          3675 Posts
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          Posted: January 11, 2007, 9:45 am - IP Logged

          45% for myself.

          45% for my ex-wife.

          10% for my two boys split equally, after they go to college.

          Presented 'AS IS' and for Entertainment Purposes Only.
          Any gain or loss is your responsibility.
          Use at your own risk.

          Order is a Subset of Chaos
          Knowledge is Beyond Belief
          Wisdom is Not Censored
          Douglas Paul Smallish
          Jehocifer

            Rick G's avatar - avatar 1766.jpg
            FEMA Region V Camp #21
            United States
            Member #520
            July 27, 2002
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            Posted: January 11, 2007, 9:51 am - IP Logged

            I have two young adult sons and would share a jackpot equally with them immediately.

            Posted 4/6:  IL Pick 3 midday and evening until they hit:  555, 347 (str8).


              Litebets27's avatar - power
              Maryland
              United States
              Member #10465
              January 14, 2005
              6065 Posts
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              Posted: January 11, 2007, 9:56 am - IP Logged

              Very interesting question. It's one that I have often pondered. My daughter is grown and on her own, but is very materialistic. I know that she is one who would go through any money that she would receive like a wild fire.

              I voted immediately, but in increments would have been better, come to think of it.

              Thanks for the Poll.

              litebets

              Feeling,  PRICELESS!!!Banana

              Come on Jackpot!!!

                Miss Bee's avatar - strawberry
                nashville
                United States
                Member #4990
                June 8, 2004
                1376 Posts
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                Posted: January 11, 2007, 10:08 am - IP Logged

                I would set up some kind of trust fund for my boys, that way I would know that they would never have to worryabout money. I am sure up front I would give them a nice chunk to just blow and have fun, but their future is way to important, and if you are young you think a couple of million dollars will last forever but we all know thats not the case.

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                  S.E.TN.
                  United States
                  Member #29824
                  January 7, 2006
                  29 Posts
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                  Posted: January 11, 2007, 10:25 am - IP Logged

                  Well I voted PROGRESSIVLY. I do not have children, but I do know that I would help out my parents, two sisters, 3 nieces, and 2 nephews. Each and everyone of them have helped me out and I believe in "What comes around, goes around". Group Hug

                  Good luck to all that play.

                    Avatar
                    California
                    United States
                    Member #46824
                    October 1, 2006
                    270 Posts
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                    Posted: January 11, 2007, 10:44 am - IP Logged

                    I voted Progressively also.  I have two boys, one in college and one in high school.  I would pay for college and get them a late model used car.  They would get some spending money for school, but would be required to work a summer job.  

                    As they got older more items; house, new car, etc.,  would come their way based upon how they reacted to the money they got in the past.  They would have to have a career of some sort.  Maybe I would supplement their salary, i.e. whatever they earn I would match.  

                    Also, they would be involved in helping to determine which charities I would support and to what extent.

                      Coin Toss's avatar - shape barbed.jpg
                      Zeta Reticuli Star System
                      United States
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                      January 17, 2006
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                      Posted: January 11, 2007, 10:59 am - IP Logged

                      45% for myself.

                      45% for my ex-wife.

                      10% for my two boys split equally, after they go to college.

                      JADELottery

                      45% to the ex, you must be part angel.

                      As for divvying up a jackpot, I don't think people have their heads on straight financially until they're in their forty's or so (for some, never).

                      I can see someone in their 20's or 30's coming into a huge pile of cash and blowing it all on dream cars or something.

                      I remember on one of the lottery documentarires one of the winners said that he had given family member and some friends $1,000,000 each - and every single one of them came back asking for more.  

                      Those who run the lotteries love it when players look for consistency in something that's designed not to have any.

                      Lep

                      There is one and only one 'proven' system, and that is to book the action. No matter the game, let the players pick their own losers.

                        LottoHackJack's avatar - leaf
                        Leamington, Ontario
                        Canada
                        Member #2995
                        December 11, 2003
                        59 Posts
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                        Posted: January 11, 2007, 12:18 pm - IP Logged

                          Progressive is the only answer for me...The kids are F27, M26, F25, and F17...and not married. Three were on their own and two are back...The 17-yr-old girl starts university next fall.

                          I'd give them 150 grand each to prove to themselves how irresponsible and economy ignorant they can be, and after watching them blow it, I would insist on them taking classes and seeking professional investment guidance and help with the right kind of firms, lawyers, accountants and other wealthy individuals who exist to assist rich people in making wise decisions before I give them another dime. I'd reserve another million in store for them eventually when they're best prepared for it...and then, after they learn what kind of spouse would go well with the scenario...heck, I'm not picking that out for them, so I wish them luck...but you can catch my drift. Winning is not making life easy...in fact, immediate destruction of principles and discipline and a greater distortion of reality has to occur first, no doubt.

                          I'd give wifey half of the remaining balance and have a contest with her to see who could make it grow the fastest...I bet she'd lose...she's consumer-oriented and judges first by worldly possessions, the outward show, whereas I seek friendship and comraderie with one's inner character.

                        LottoHackJack

                          emilyg's avatar - cat anm.gif

                          United States
                          Member #14
                          November 9, 2001
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                          Posted: January 11, 2007, 1:07 pm - IP Logged

                          immediately

                          love to nibble those micey feet.

                           

                                                       

                            Uff Da!'s avatar - InCelebration 001.jpg
                            Washington State
                            United States
                            Member #33973
                            February 26, 2006
                            347 Posts
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                            Posted: January 11, 2007, 3:55 pm - IP Logged

                            I have no children of my own.  My stepchildren are in their 50s and 60s and in much worse health than I am, so with a large win, I'd give them some immediately to make sure they'd have time to enjoy it.  I'd also give some immediately to my five siblings, as they range in age up to the 80s.  But I wouldn't give anyone enough to live extravagently, just "nicely."  I'd prefer to give excess amounts to charities, some immediately, some in my will.

                              JADELottery's avatar - MeAtWork 03.PNG
                              The Quantum Master
                              West Concord, MN
                              United States
                              Member #21
                              December 7, 2001
                              3675 Posts
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                              Posted: January 11, 2007, 4:42 pm - IP Logged

                              JADELottery

                              45% to the ex, you must be part angel.

                              As for divvying up a jackpot, I don't think people have their heads on straight financially until they're in their forty's or so (for some, never).

                              I can see someone in their 20's or 30's coming into a huge pile of cash and blowing it all on dream cars or something.

                              I remember on one of the lottery documentarires one of the winners said that he had given family member and some friends $1,000,000 each - and every single one of them came back asking for more.  

                              She's the Mother of my Children, plus, to have to put up with my B.S., she deserves it. Any one that can handle me for that length of time needs compensation for their time. Besides, it's my fault we are divorced, not her's. We are still good friends and are better friends now than when we were married.

                              Presented 'AS IS' and for Entertainment Purposes Only.
                              Any gain or loss is your responsibility.
                              Use at your own risk.

                              Order is a Subset of Chaos
                              Knowledge is Beyond Belief
                              Wisdom is Not Censored
                              Douglas Paul Smallish
                              Jehocifer