Why do you need a lawyer to pick up your lottery check?Prev TopicNext Topic

• Mega-ThinkTank

  

  Houston
  United States
  Member #62,317
  June 24, 2008
  242 Posts
  Offline
  Jul 21, 2010, 2:24 pm

  ▲▼

  I read a lottery website that explains how much you're due and how to collect if you win a jackpot. I can't remember exactly all that was said, or the website, but it gave useful information and explained in details how to collect your own check.

  With a lawyer, I'm assuming, you're looking anywhere from a 10% to 30% bite out of your earning and that's after the initial taxes etc. I never understood why a lawyer should be paid that much.

  In general, jackpot winner bring a lawyer to collect their checks --- maybe they owe taxes and instead of having the lottery deduct that from their earnings, they hire a lawyer to keep their earnings away from creditors but isn't there a way you can work that out yourself before heading to the Lottery office?
• weshar75

  

  Mcminnville, Oregon
  United States
  Member #3,013
  December 13, 2003
  6,173 Posts
  Offline
  Jul 21, 2010, 4:24 pm

  ▲▼

  I won't be using a lawyer for my collecting.  Don't need one unless I get sued.-weshar75
• four4me

  

  MD
  United States
  Member #1,701
  June 18, 2003
  10,731 Posts
  Offline
  Jul 21, 2010, 4:36 pm

  ▲▼

  Some people might want a lawyer if they are forming a trust and they plan to divvy the money among family members or relatives.

  Big John says. You don't hit the number. The number hits you!!!!

                 I'm not Big John, I'm Four4me, Big John's a friend.
• HoLeeKau

  

  Idaho
  United States
  Member #94,279
  July 17, 2010
  2,453 Posts
  Offline
  Jul 22, 2010, 12:49 pm

  ▲▼

  Why would you pay a lawyer that much to help you with the lottery details?  Around here they charge around $200 an hour.  If one asked for a percentage of my jackpot, I'd run as fast as I could.  Sounds scammy to me.
• iGlenn

  

  United States
  Member #61,230
  May 16, 2008
  126 Posts
  Offline
  Jul 22, 2010, 7:26 pm

  ▲▼
  In response to Mega-ThinkTank

  Quote: Originally posted by Mega-ThinkTank on Jul 21, 2010

  I read a lottery website that explains how much you're due and how to collect if you win a jackpot. I can't remember exactly all that was said, or the website, but it gave useful information and explained in details how to collect your own check.

  With a lawyer, I'm assuming, you're looking anywhere from a 10% to 30% bite out of your earning and that's after the initial taxes etc. I never understood why a lawyer should be paid that much.

  In general, jackpot winner bring a lawyer to collect their checks --- maybe they owe taxes and instead of having the lottery deduct that from their earnings, they hire a lawyer to keep their earnings away from creditors but isn't there a way you can work that out yourself before heading to the Lottery office?

  I doubt a lawyer would charge you 10-30% of your lottery winnings.  They only take 10-30% if you win a lawsuit because they don't make you pay upfront.  They get nothing if they lose the lawsuit.

  At most the lawyer would charge you a few hundred $$ an hour to prepare paperwork and show up at the lottery office with you or on your behalf.
• sully16

  

  25

  Ringleader

  Michigan
  United States
  Member #81,738
  October 28, 2009
  128,220 Posts
  Offline
  Jul 22, 2010, 10:03 pm

  ▲▼

  I'd rather talk to my accountant first, but, you know me I'd bring 5 or 6 lawyers along and push them out of the car half way there...watch in the rear view mirror as they went tumbling along.

   
• jrosina

  

  New York,
  Panama
  Member #73,076
  April 4, 2009
  3,498 Posts
  Offline
  Jul 23, 2010, 12:37 am

  ▲▼
  In response to sully16

  Quote: Originally posted by sully16 on Jul 22, 2010

  I'd rather talk to my accountant first, but, you know me I'd bring 5 or 6 lawyers along and push them out of the car half way there...watch in the rear view mirror as they went tumbling along.

  Sullyyy! NO!! why watch the rear view mirror?? if they tumble, they tumble...If they Splater they Splater.. but you have to keep your eyes on the road!!!

  forget what "they" say about you. What you say about you?...

  Now, does it count??

   

   

  *Jr$ina
• TheGameGrl

  

  A long and winding road
  United States
  Member #17,083
  June 10, 2005
  6,680 Posts
  Offline
  Jul 23, 2010, 1:01 am

  ▲▼

  The operative word used by the poster was "ASSUMING" such and such a percentage.Key error in assuming....

  LOL SULLY! Love Lawyer comments!

  Count your smiles.
• ttech10

  

  Texas
  United States
  Member #92,326
  June 5, 2010
  887 Posts
  Offline
  Jul 24, 2010, 4:03 am

  ▲▼

  I wouldn't bring a lawyer unless I was doing a blind trust, in which case it wouldn't JUST be a lawyer but someone much more (as they're essentially in control of all the winnings).

   

  For taxes and whatever, you deal with that later (I would assume later, since taxes are paid on a certain day of the year) so you wouldn't need one there with you when you collect your money. Even then you wouldn't necessarily need a lawyer as much as you would an accountant or someone reliable to do your taxes (as you only have to deal with the federal/state income tax as the winnings counts as your income). While it would be smart to hire an accountant, financial advisor and a lawyer to discuss and oversee spending and other actions involving your money I don't think it would be necessary to hire a lawyer accompany you in accepting the winnings.

   

  Personally, though, I trust that I could deal with the spending and investing on a personal level (or at least with the help of family, an aunt is an accountant for a high level firm). I would trust them to look after me more than anyone else (think of how many people thought Madoff was extremely trustworthy).