Important Topic: Claim Prize in Trust??Prev TopicNext Topic

• rundown99

  

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  Apr 14, 2003, 10:09 am

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  Ever since the Powerball opened in 1992, other than anonymous prize claims allowed by Delaware and a couple other states, there has only been one instance in which the prize has been claimed in trust.  If you ever won it, would you consider this option?  I read a lot of horror stories of people winning the jackpot and becoming miserable due to financial loss and social and psychological isolation from friends.  I felt that this is an important topic, because whether you claim the prize in trust could mean the difference between one's dream and a living nightmare.

  Smart lottery winners form trust to claim their winnings.  They send an attorney to the lottery headquarters to claim the prize in trust, so that ONLY the name of the trust is revealed.  And they tell NO ONE, especially relatives.

  If you ever win a lottery and you are single, the only person you should ever marry is someone who was truly in love with you BEFORE you won the jackpot!

  People can talk about strategies and gimmicks all they want, but unless your ticket actually matches at least 5 of those 6 balls, you are just another person who tried to win a game yet ultimately failed.
• CASH Only

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  Apr 14, 2003, 10:39 am

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  Secret: If I were to ever win, it probably would be in Connecticut (rather than in NY.) I _would_ want to be as anonymous as possible.
• RJOh

  

  100

  mid-Ohio
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  Apr 14, 2003, 11:37 am

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  I've have not seen a Powerball or Megamillions winner on the T.V. talkshows since Mr. Whittaker of Virgina won.  Does that mean there have been no winners or that nobody cares if the winners get less than $100M?  If the winner is wealthy, his friends won't change and if he is poor, he will be moving and getting a new set of friends, so it won't matter either way.  Bill Gates has billions and almost everybody knows his name.  If a person can't handle winning than he shouldn't play.

  RJOh 
• visiondude

  

  light on my feet
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  May 20, 2002
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  Apr 14, 2003, 4:49 pm

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  i already had decided that if i win i would claim it anonymousy (as possible thru a trust).
  
  
  
  what solidified it for me is when i read a story about a guy that won and that it took like 5 years for all the ramifications "people wise" to die down.
  
  
  
  obviously the less people that know, the better/smoother the ride.
  
  VDQPLS

              "i am .........."meant to"       

  P.S.,  that RJoH  is a stand up guy.  thanks,  vision

           until further notice,  it's  france everyday
• rundown99

  

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  Apr 16, 2003, 11:49 am

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  Shakey Dee

  What do you mean by What Money????  Are you saying that a dishonest lawyer could keep the money for himself/herself and pretend that no trust had been formed?  Could such an instance occur?

  Smart lottery winners form trust to claim their winnings.  They send an attorney to the lottery headquarters to claim the prize in trust, so that ONLY the name of the trust is revealed.  And they tell NO ONE, especially relatives.

  If you ever win a lottery and you are single, the only person you should ever marry is someone who was truly in love with you BEFORE you won the jackpot!

  People can talk about strategies and gimmicks all they want, but unless your ticket actually matches at least 5 of those 6 balls, you are just another person who tried to win a game yet ultimately failed.
• rundown99

  

  United States
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  August 14, 2002
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  Apr 16, 2003, 11:51 am

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  More questions:  How much would it cost to set up a trust? and Why is it so rare for people to set up trusts?

  Smart lottery winners form trust to claim their winnings.  They send an attorney to the lottery headquarters to claim the prize in trust, so that ONLY the name of the trust is revealed.  And they tell NO ONE, especially relatives.

  If you ever win a lottery and you are single, the only person you should ever marry is someone who was truly in love with you BEFORE you won the jackpot!

  People can talk about strategies and gimmicks all they want, but unless your ticket actually matches at least 5 of those 6 balls, you are just another person who tried to win a game yet ultimately failed.
• rundown99

  

  United States
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  August 14, 2002
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  Apr 21, 2003, 7:23 am

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  Powerball is 51 MILLION !!!!

  Smart lottery winners form trust to claim their winnings.  They send an attorney to the lottery headquarters to claim the prize in trust, so that ONLY the name of the trust is revealed.  And they tell NO ONE, especially relatives.

  If you ever win a lottery and you are single, the only person you should ever marry is someone who was truly in love with you BEFORE you won the jackpot!

  People can talk about strategies and gimmicks all they want, but unless your ticket actually matches at least 5 of those 6 balls, you are just another person who tried to win a game yet ultimately failed.
• CASH Only

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  Apr 21, 2003, 8:32 am

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  Secret:
  
  

  Let's hope PB keeps growing so Iowa gets people in their stores to also play "Hot Lotto" despite the Minnesota winner ($2.2m) last week.
• Thomas Covenant

  

  South Carolina
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  July 16, 2002
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  Apr 23, 2003, 5:24 am

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  Cost for setting up a trust ranges from $49 for a do-it-yourself package to several thousand bucks. There are two main types of trusts. Irrevocable Trusts and Revocable Living Trust. The living trust would probably be best because you retain control and it can be changed. The reason more people don't set one up is because they want the fame when they win the lottery.

  
  Okay, now I believe you can predict lottery numbers
• rundown99

  

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  Apr 23, 2003, 1:03 pm

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  I gotta play the Hot Lotto sometime, but I will wait until it grows.  But for the moment, it's Powerball TIME !!!

  Smart lottery winners form trust to claim their winnings.  They send an attorney to the lottery headquarters to claim the prize in trust, so that ONLY the name of the trust is revealed.  And they tell NO ONE, especially relatives.

  If you ever win a lottery and you are single, the only person you should ever marry is someone who was truly in love with you BEFORE you won the jackpot!

  People can talk about strategies and gimmicks all they want, but unless your ticket actually matches at least 5 of those 6 balls, you are just another person who tried to win a game yet ultimately failed.