If you claim Big Win Anonymously Do you sign ticket or not...Prev Topic Next Topic

New Topic New Poll

Perfecttiming2

United States
Member #65,959
October 11, 2008
223 Posts
Offline

Apr 16, 2009, 12:49 am
Many on this site believe it is best to claim a jackpot prize anonymously....and (if your state allows it )

I totall agree....However....

HOW do you sign the ticket?

If you are splitting with one other person and you both agree on how to claim it:
- Do you leave the ticket unsigned until you form your entity (LLC, Partnership, Trust etc) AND then sign it with the name of the form entity?
OR
- Do you sign it regardless of how you claim it? .........And deal with the legalities afterwards.
It is confusing to me because I can't see having a ticket that's a jackpot winner and leaving it unsign UNTIL you form your entity....

For example,

If you want a financial institution (who will handle forming your entity) to also handle the press as well, and you already signed the ticket, does that mean that you can't have, let's say....your LLC claim the winnings because the LLC was not formed at the time you won???........I hope I am making sense.....

And,

If you do form an LLC to claim the prize once you realize you've won, does the ticket remain unsigned until your LLC papers are filed and you sign it using your LLC (or trust, or partnership) name???

You always here stories of people taking their time to claim the prize because they formed a trust (or whatever) ......but I have yet to find any information on the step-by-step process.

Does anyone know how this works?
grandpajohn

williamsburg,ohio
United States
Member #71,027
February 17, 2009
603 Posts
Offline

Apr 16, 2009, 1:40 am

As soon as you know your a winner sign that ticket it will prove your the owner of that ticket.If you don't sign it and lets say someone finds it, you think they will give you the ticket back?? Can you prove its yours? No you can't. So sign it.

"Don't Give Up.Don't Ever Give Up"

Jim Valvano ex N.C.State basketball coach
marlon39

Philippines
Member #71,193
February 20, 2009
226 Posts
Offline

Apr 16, 2009, 2:24 am

Quote: Originally posted by grandpajohn on Apr 16, 2009
As soon as you know your a winner sign that ticket it will prove your the owner of that ticket.If you don't sign it and lets say someone finds it, you think they will give you the ticket back?? Can you prove its yours? No you can't. So sign it.

"I firmly believe that any man's finest hour, the greatest fulfillment of all that he holds dear, is the moment when he has worked his heart out in a good cause and lies exhausted on the field of battle-victorious."
- Vince Lombardi
DC81

MI
United States
Member #54,828
August 31, 2007
985 Posts
Offline

Apr 16, 2009, 2:54 am

IIRC, if you want a Trust that you've set up to at least try to keep your name out of the press release and the media the ticket needs to have the name of the Trust on the back to claim it.

I disagree, it can be easy to prove who owns a ticket if you either lose it and someone else claims it or if it's stolen from you, it's not too hard to make a photo copy (or several, maybe take a video/photo as well) while placing the original in a safe and secure location, not good for claiming but good for proof while keeping the original hidden away or if it is stolen though how anyone would be foolish enough to let a jackpot winning ticket out of their sight for even a second is beyond me. Well unless you're mugged, which would make one wonder how they found out in the first place. Not to mention security cameras that the store you bought it in will probably have showing you buying it at the same time your state's lottery commission shows the winning ticket was printed, then again perhaps the mugger worked for the store, heh. Anyone who steals a winning lottery ticket from someone who knowingly won is in this day and age is setting themselves up for some likely jail time and if it's a big one, a nice long prison sentence because they probably won't get away with it.

You can't predict random.
grandpajohn

williamsburg,ohio
United States
Member #71,027
February 17, 2009
603 Posts
Offline

Apr 16, 2009, 5:03 am

Quote: Originally posted by DC81 on Apr 16, 2009
IIRC, if you want a Trust that you've set up to at least try to keep your name out of the press release and the media the ticket needs to have the name of the Trust on the back to claim it.

I disagree, it can be easy to prove who owns a ticket if you either lose it and someone else claims it or if it's stolen from you, it's not too hard to make a photo copy (or several, maybe take a video/photo as well) while placing the original in a safe and secure location, not good for claiming but good for proof while keeping the original hidden away or if it is stolen though how anyone would be foolish enough to let a jackpot winning ticket out of their sight for even a second is beyond me. Well unless you're mugged, which would make one wonder how they found out in the first place. Not to mention security cameras that the store you bought it in will probably have showing you buying it at the same time your state's lottery commission shows the winning ticket was printed, then again perhaps the mugger worked for the store, heh. Anyone who steals a winning lottery ticket from someone who knowingly won is in this day and age is setting themselves up for some likely jail time and if it's a big one, a nice long prison sentence because they probably won't get away with it.

As I'm walking into the store where I buy my tickets, I pick up a ticket off the ground I put it in my pocket (not looking at it at that time )I get home for the heck on it I look up the nubers on the ticket to see if its a winner I find out that the ticket is worth 85 million.Now am I going to go back to the store and say "Hey I found this ticket on the ground and it worth 85 million,whose is it"?? No I am not.Its mind now unless it was sign buy the person who won it.

As for cameras go the store where I get my tickets don't have them,and even if they did you would be on there buying your tickets but won't show what the numbers are.

"Don't Give Up.Don't Ever Give Up"

Jim Valvano ex N.C.State basketball coach
Perfecttiming2

United States
Member #65,959
October 11, 2008
223 Posts
Offline

Apr 16, 2009, 12:56 pm
Quote: Originally posted by DC81 on Apr 16, 2009
IIRC, if you want a Trust that you've set up to at least try to keep your name out of the press release and the media the ticket needs to have the name of the Trust on the back to claim it.

I disagree, it can be easy to prove who owns a ticket if you either lose it and someone else claims it or if it's stolen from you, it's not too hard to make a photo copy (or several, maybe take a video/photo as well) while placing the original in a safe and secure location, not good for claiming but good for proof while keeping the original hidden away or if it is stolen though how anyone would be foolish enough to let a jackpot winning ticket out of their sight for even a second is beyond me. Well unless you're mugged, which would make one wonder how they found out in the first place. Not to mention security cameras that the store you bought it in will probably have showing you buying it at the same time your state's lottery commission shows the winning ticket was printed, then again perhaps the mugger worked for the store, heh. Anyone who steals a winning lottery ticket from someone who knowingly won is in this day and age is setting themselves up for some likely jail time and if it's a big one, a nice long prison sentence because they probably won't get away with it.
Thanks DC81, Grandpa and Marlon39....I appreciate the response!

I did however, found the answer I was looking for....
- Make copies of original (front and back)
- Secure the original it in a safe place
- Hire a lawyer
- Form a blind trust
- Inform lottery official that you are claiming anonymously
- Claim winnings under the blind trust name
In the state I live in they will let you claim prize anonymously.
LANTERN

Tx
United States
Member #4,570
May 4, 2004
5,180 Posts
Offline

Apr 16, 2009, 10:52 pm
Quote: Originally posted by Perfecttiming2 on Apr 16, 2009
Thanks DC81, Grandpa and Marlon39....I appreciate the response!

I did however, found the answer I was looking for....
- Make copies of original (front and back)
- Secure the original it in a safe place
- Hire a lawyer
- Form a blind trust
- Inform lottery official that you are claiming anonymously
- Claim winnings under the blind trust name
In the state I live in they will let you claim prize anonymously.
Going then by that, I guess that you leave it unsigned until after you form the blind trust (?).

BibleOnline ParishesOnline ChristianRadioOnline MassOnline Mass

"Ten measures of beauty descended to the world, nine were taken by Jerusalem."
Perfecttiming2

United States
Member #65,959
October 11, 2008
223 Posts
Offline

Apr 17, 2009, 1:13 am

Quote: Originally posted by LANTERN on Apr 16, 2009
Going then by that, I guess that you leave it unsigned until after you form the blind trust (?).

Hi Lantern!

Based on what I found.....yes.

(I know, still makes me uncomfortable....)

From what I understand, the blind trust collects the winnings and you tell the representative of the institution (that formed the trust for you) what you want done with the money.

I am asking on this because I'd really, really like to know how it all works.

PS: I heard your ending quote today on the radio this morning.....Love it!!!!!
LANTERN

Tx
United States
Member #4,570
May 4, 2004
5,180 Posts
Offline

Apr 17, 2009, 8:31 pm

Quote: Originally posted by Perfecttiming2 on Apr 17, 2009
Hi Lantern!

Based on what I found.....yes.

(I know, still makes me uncomfortable....)

From what I understand, the blind trust collects the winnings and you tell the representative of the institution (that formed the trust for you) what you want done with the money.

I am asking on this because I'd really, really like to know how it all works.

PS: I heard your ending quote today on the radio this morning.....Love it!!!!!

Perfecttiming2

Do you mean my posts' signature?

The last or second part I got from LottoJet a LP member who posted for a very short time long ago.

Good Luck!

BibleOnline ParishesOnline ChristianRadioOnline MassOnline Mass

"Ten measures of beauty descended to the world, nine were taken by Jerusalem."
dk1421

North Carolina
United States
Member #64,580
September 1, 2008
349 Posts
Offline

Apr 17, 2009, 9:53 pm

Hey Perfecttiming2!

Thanks for that question because I've been wondering too! And it seems you came to the same conclusion I have: don't sign it, copy it, hide it, form LLC or Blind Trust.

I did hear that if you do sign it with your real name, they are legally bound to release that information. So even if you made a Blind Trust, if you sign it with your real name, then everyone will know who is getting the money.

I'm just curious...why would you do a Blind Trust over a LLC?
Perfecttiming2

United States
Member #65,959
October 11, 2008
223 Posts
Offline

Apr 19, 2009, 2:08 am

Quote: Originally posted by LANTERN on Apr 17, 2009
Perfecttiming2

Do you mean my posts' signature?

The last or second part I got from LottoJet a LP member who posted for a very short time long ago.

Good Luck!

Hi Lantern!

It's the two quotes below that I was referring to.

(The one on Jerusalem is the one I heard on the radio the other morning....)

"The fear of the Lord is the beginning of wisdom and the knowledge of the Holy One is understanding"

"Ten measures of beauty descended on the world, nine were taken by Jerusalem"
Perfecttiming2

United States
Member #65,959
October 11, 2008
223 Posts
Offline

Apr 19, 2009, 2:14 am

Quote: Originally posted by dk1421 on Apr 17, 2009
Hey Perfecttiming2!

Thanks for that question because I've been wondering too! And it seems you came to the same conclusion I have: don't sign it, copy it, hide it, form LLC or Blind Trust.

I did hear that if you do sign it with your real name, they are legally bound to release that information. So even if you made a Blind Trust, if you sign it with your real name, then everyone will know who is getting the money.

I'm just curious...why would you do a Blind Trust over a LLC?

Hi dk1421!

You know I thought an LLC would be the best way to go as well.....

From what I understand, it is forming an LLC that will protect your assests from individuals or entities who would seek to obtain them (assests) through lawsuits.

I found on the internet where it mentioned that a Blind Trust should be formed if you want to claim lotto winnings.........but I am thinking that an LLC is just as good..........

I guess it really depends on what advice you are willing to go with.
KY Floyd

NY
United States
Member #23,834
October 16, 2005
4,772 Posts
Offline

Apr 19, 2009, 11:00 am

Forming an LLC to collect lottery winnings won't protect the money, because the income from an LLC passes through to the partners, becoming their personal property. All the LLC does is protect the partners against liability caused by the actions of the LLC. If a winner wants to start a business with the winnings, forming an LLC to conduct the business would be an option.

That said, the advice a sensible person would go with will be from an attorney, not the internet.
Perfecttiming2

United States
Member #65,959
October 11, 2008
223 Posts
Offline

Apr 19, 2009, 11:25 am

Quote: Originally posted by KY Floyd on Apr 19, 2009
Forming an LLC to collect lottery winnings won't protect the money, because the income from an LLC passes through to the partners, becoming their personal property. All the LLC does is protect the partners against liability caused by the actions of the LLC. If a winner wants to start a business with the winnings, forming an LLC to conduct the business would be an option.

That said, the advice a sensible person would go with will be from an attorney, not the internet.

KY Floyd

You are implying that I lack common sense and I do not appreciate you insulting me.

I am very well aware that an attorney would be appropriate WHEN I NEED ONE!

My question was to simply engage in conversation....my use of the internet provided the answer I was looking for to the question used for this post....

As a sensible person, I am aware that if a person wins the lottery, you go to an attorney...not the internet

I have never, ever been rude to anyone on this site....

And

Since you are such a sensible person, it would be nice if you could do the same.
Texas Joey

Katy, Tx
United States
Member #67,707
December 3, 2008
204 Posts
Offline

Apr 20, 2009, 2:14 am

Sign any ticket you have thats a winner!! A lot of places that sell these tickets are claiming that they are not winners and then cashing them in if they are not signed!!!

They know who you are anyways when you go get your check! So it makes no difference in that matter.

Lol playing the lottery.

Joey