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Did the couple even consider calling a lawyer??

Topic closed. 9 replies. Last post 4 years ago by haymaker.

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Alabama
United States
Member #125065
March 24, 2012
210 Posts
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Posted: November 30, 2012, 10:35 pm - IP Logged

It seems kind of crazy that they only waited less than 24 hours to claim this money.Planning is key before you can even begin to take the check .My first question would be how can we get away with this money and not have my name in the public eye.Second what are my options to put this money to work .Third question how much to retain you guys for future litigation purposes .Fourth wheres a jet to take  me out of the country.

    Original Bey's avatar - Lottery-022.jpg

    Bahamas
    Member #133462
    September 30, 2012
    5946 Posts
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    Posted: November 30, 2012, 10:39 pm - IP Logged

    Attornies and Financial Planners treated their requests as prank calls and hung up the phone. So they decided to claim and make a big splash and have the clowns hunt them down.

    Those thieves must be kicking themselves right about now.

    "Everything works  ONCE!"

      whiteballz's avatar - Lottery-015.jpg
      Nutley, New Jersey
      United States
      Member #131058
      August 1, 2012
      875 Posts
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      Posted: November 30, 2012, 10:58 pm - IP Logged

      It seems kind of crazy that they only waited less than 24 hours to claim this money.Planning is key before you can even begin to take the check .My first question would be how can we get away with this money and not have my name in the public eye.Second what are my options to put this money to work .Third question how much to retain you guys for future litigation purposes .Fourth wheres a jet to take  me out of the country.

      I already know the laws in my state about public disclosure. The lottery commission is obligated by law to release the name of the jackpot winner but attending a press conference is a choice. If I win, I'm claiming as soon as possible and I'll skip the press conference.

      People will know your name but not your face. If you have a common enough name like Dave Smith, you can just tell people you are not Dave Smith the lottery winner, that is some other Dave Smith.

      As far as putting the money to work, it takes about 4 to 6 weeks for the lottery commission to wire the money to your bank account. I'd claim the day after the drawing. Then I'd use the next 4 to 6 weeks to talk to financial advisors and lawyers.

      I don't see any advantage in delaying the claims process whatsoever unless you bought the ticket in one of the very few states that allows anonymity.

      .

        WaLottoDude's avatar - 8ball
        New Member
        Snohomish, WA
        United States
        Member #135234
        November 19, 2012
        29 Posts
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        Posted: November 30, 2012, 11:06 pm - IP Logged

        I already know the laws in my state about public disclosure. The lottery commission is obligated by law to release the name of the jackpot winner but attending a press conference is a choice. If I win, I'm claiming as soon as possible and I'll skip the press conference.

        People will know your name but not your face. If you have a common enough name like Dave Smith, you can just tell people you are not Dave Smith the lottery winner, that is some other Dave Smith.

        As far as putting the money to work, it takes about 4 to 6 weeks for the lottery commission to wire the money to your bank account. I'd claim the day after the drawing. Then I'd use the next 4 to 6 weeks to talk to financial advisors and lawyers.

        I don't see any advantage in delaying the claims process whatsoever unless you bought the ticket in one of the very few states that allows anonymity.

        Well my assumption would be taxes. For instance I assume that claiming as a company (LLC or what have you) you would have to pay less money than an individual to redistribute the money to loved ones and charities etc.


        Whereas if you claim as John Smith then want to give your parents money you're bound by the "Gift" tax and other things. I'm pretty sure to move the money from an individual to the set company would cause more taxes to be taken out as well.

        I've never contacted a lawyer and asked specially but it makes sense from what I've read and what I know of the law and government taxes.

          whiteballz's avatar - Lottery-015.jpg
          Nutley, New Jersey
          United States
          Member #131058
          August 1, 2012
          875 Posts
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          Posted: November 30, 2012, 11:27 pm - IP Logged

          Well my assumption would be taxes. For instance I assume that claiming as a company (LLC or what have you) you would have to pay less money than an individual to redistribute the money to loved ones and charities etc.


          Whereas if you claim as John Smith then want to give your parents money you're bound by the "Gift" tax and other things. I'm pretty sure to move the money from an individual to the set company would cause more taxes to be taken out as well.

          I've never contacted a lawyer and asked specially but it makes sense from what I've read and what I know of the law and government taxes.

          I don't know where you got that idea that you pay less to redistribute money to people using a company. When you get money from a company, the IRS considers that taxable income. So by claiming the money with a company and then giving money to someone, you've shifted the tax burden from yourself to that person.

          If you're planning to give a large amount of the winnings to family members, you can file a multiple ownership claim. Your family member will get the money directly from the lottery commission and the money will only be taxed once.

          .


            United States
            Member #130815
            July 25, 2012
            1636 Posts
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            Posted: December 1, 2012, 12:51 am - IP Logged

            It seems kind of crazy that they only waited less than 24 hours to claim this money.Planning is key before you can even begin to take the check .My first question would be how can we get away with this money and not have my name in the public eye.Second what are my options to put this money to work .Third question how much to retain you guys for future litigation purposes .Fourth wheres a jet to take  me out of the country.

            Maybe they decided to not overthink it and just claim their money....I mean they live in a town with 458 people in it who the heck doesn't know they won.....the only reason I would have waited longer is my brother would have to fly in from out of town to claim it with me and my sisters....otherwise I'd have been there when they opened the door the next morning...LOL

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              NY
              United States
              Member #23835
              October 16, 2005
              3474 Posts
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              Posted: December 1, 2012, 2:40 am - IP Logged

              "I don't see any advantage in delaying the claims process whatsoever unless you bought the ticket in one of the very few states that allows anonymity."

              I'd say you've got that completely backwards. If you can remain anonymous you can claim the prize and make some plans while waiting for the money to be transferred. When you can't be anonymous you want the time to get things in order. These people probably didn't even get their phone turned off before rushing to claim the prize.

              "they live in a town with 458 people in it who the heck doesn't know they won"

              Everyone in every other town in the country. Well, until 36 hours after they won, anyway.


                United States
                Member #124493
                March 14, 2012
                7023 Posts
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                Posted: December 1, 2012, 3:56 am - IP Logged

                It seems kind of crazy that they only waited less than 24 hours to claim this money.Planning is key before you can even begin to take the check .My first question would be how can we get away with this money and not have my name in the public eye.Second what are my options to put this money to work .Third question how much to retain you guys for future litigation purposes .Fourth wheres a jet to take  me out of the country.

                Did you try the airport?

                  whiteballz's avatar - Lottery-015.jpg
                  Nutley, New Jersey
                  United States
                  Member #131058
                  August 1, 2012
                  875 Posts
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                  Posted: December 1, 2012, 9:44 am - IP Logged

                  "I don't see any advantage in delaying the claims process whatsoever unless you bought the ticket in one of the very few states that allows anonymity."

                  I'd say you've got that completely backwards. If you can remain anonymous you can claim the prize and make some plans while waiting for the money to be transferred. When you can't be anonymous you want the time to get things in order. These people probably didn't even get their phone turned off before rushing to claim the prize.

                  "they live in a town with 458 people in it who the heck doesn't know they won"

                  Everyone in every other town in the country. Well, until 36 hours after they won, anyway.

                  There is no difference if you claim the day after the drawing if you can't be anonymous. Like I wrote, it takes about 4 to 6 weeks for the money to be made available to you. You can make plans, talk to lawyers and get everything in order during the 4 to 6 weeks.

                  What difference would it make if you get your phone turned off before your name has been released to the newspapers or after? Start the claims process in the morning and call the phone company to cancel your phone in the afternoon. No problem.

                  If you delay the claims process, a million horrible things can happen to your winning ticket. I know what everyone says about putting the ticket in a safety deposit box, and while I will admit the chances of anything bad happening to your ticket while stored at the bank are miniscule, the chances are not zero percent.

                  That's like people telling you you shouldn't play the lottery because the chances of you winning are miniscule but as small as your chances were you manage to beat the overwhelming odds and win. Miniscule odds doesn't mean it will never ever happen. You'll be laying in bed at night wondering if anything wrong will happen to the ticket while at the bank or if anything bad will happen after you take the ticket out of the safety deposit box and make your way to the lottery headquarters.

                  I'd start the claims process immediately, that way the lottery officials will possess the winning ticket and the chances of me collecting my prize money are a 100 percent certainty.

                  .

                    haymaker's avatar - Lottery-012.jpg
                    Egg Harbor twp.south Jersey shore
                    United States
                    Member #112968
                    June 29, 2011
                    3856 Posts
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                    Posted: December 2, 2012, 7:15 pm - IP Logged

                    I already know the laws in my state about public disclosure. The lottery commission is obligated by law to release the name of the jackpot winner but attending a press conference is a choice. If I win, I'm claiming as soon as possible and I'll skip the press conference.

                    People will know your name but not your face. If you have a common enough name like Dave Smith, you can just tell people you are not Dave Smith the lottery winner, that is some other Dave Smith.

                    As far as putting the money to work, it takes about 4 to 6 weeks for the lottery commission to wire the money to your bank account. I'd claim the day after the drawing. Then I'd use the next 4 to 6 weeks to talk to financial advisors and lawyers.

                    I don't see any advantage in delaying the claims process whatsoever unless you bought the ticket in one of the very few states that allows anonymity.

                    Do you know if the perposal for 1 year anonynimty passed in our state ?

                    after that one article was published on here, I did'nt hear any more about it.

                    even on the states website.

                    Extraordinary Popular Delusions & the Madness of Crowds    -- Charles Mackay  LL.D.