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Would you support a cooling-off period?

Topic closed. 50 replies. Last post 10 months ago by Rexer90.

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United States
Member #172489
January 26, 2016
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Posted: January 26, 2016, 11:07 pm - IP Logged

Let people make their own decisions, no need for more rules.

    TheMeatman2005's avatar - lightening
    Brooklyn, NY
    United States
    Member #169723
    October 29, 2015
    877 Posts
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    Posted: January 28, 2016, 3:50 am - IP Logged

    To me this ideology serves to protect people from themselves and not so sure i agree with it. Many people are responsible and have put thought into things should they win, so why should they have to wait 90 days before enjoying their winnings because others need protecting from their irresponsible behaviors. I can see where a 90 day cool off period MIGHT help those kinds of people, but on the other hand, just not sure why other winners have to suffer the consequences by having their winnings withheld for 90 days.

    I have to say no...i do not support a cool off period. Let responsible winners get on with their new life and let those who are irresponsible do what they are going to do regardless.

    I Agree!  1000%

    I want my money as soon as a lawyer can set up a trust or LLC. And not one moment longer!

    I long for the day I can tell my boss...Take this job and shove it!

    The Meatman

    “The quickest way to double your money is to fold it in half and put it in your back pocket.” Will Rogers

    Winning happens in a flash, Like A Bolt Of Lightning!  Patriot

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      United States
      Member #172730
      February 3, 2016
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      Posted: February 3, 2016, 11:01 pm - IP Logged

      I don't think that's necessarily true. Either you're a responsible person with thinking skills or you aren't. I responsible person would take advantage of that time by organizing a trust, hiring attorneys and advisors, etc. An irresponsible person would probably just spend that time spending the money before they even got it anyway.

       

      My only issue with a mandatory cool off period is will the media just create a frenzy later instead of immediately? I'd wait for a while before coming forward until the media frenzy died. That's my biggest issue.

        TheMeatman2005's avatar - lightening
        Brooklyn, NY
        United States
        Member #169723
        October 29, 2015
        877 Posts
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        Posted: February 17, 2016, 8:12 pm - IP Logged

        I believe a cooling-off period before winners' can collect prize money would be a good idea. It would give winners' time to adapt to their new reality. It would also give winners' an opportunity to get professional legal and financial advice, before they claim their winnings.

        I have had the past 40-something years planning what I would do when I win.

        I'm not about to wait an extra 90 days.

        As soon as my legal and financial team is assembled, I am staking my claim! Banana

        The Meatman

        “The quickest way to double your money is to fold it in half and put it in your back pocket.” Will Rogers

        Winning happens in a flash, Like A Bolt Of Lightning!  Patriot

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          United States
          Member #164725
          March 12, 2015
          342 Posts
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          Posted: February 17, 2016, 8:58 pm - IP Logged

          Waiting periods just put your life in danger.

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            LA Ca.
            United States
            Member #172750
            February 3, 2016
            89 Posts
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            Posted: February 21, 2016, 1:15 am - IP Logged

            There's no choice in California, apparently it takes them 60+ days to get the check in the mail to you (yup, they mail out the check, no wire transfer)