Can trust be formed if you sign ticket?Prev TopicNext Topic

• rundown99

  

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  May 15, 2003, 8:20 am

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  I was at the gas station and about a month ago, as I recall, the gas station attendant told me that if an attorney claims the prize for you (I think that he called the method "Power of Attorney"), the ticket can't be signed by you.  The one Powerball grand prize that was claimed in trust (from the December 11, 1999 drawing) was claimed by a trustee who is a lawyer.  But shouldn't you always sign your tickets?  And what if the lawyer robs you blind???? I was just wondering, because you'll never know what could happen if your name goes public on the website of a multi-state lottery game.  Forming a trust to claim the prize may be the solution to avoid greedy relatives.  Either that or take the money and run.  The Powerball winner who had formed a trust to claim the prize had not quit his or her job.  Why?  Was he or she in the family business?  Or was he or she self-employed?  Who knows?  But if you become famous because of a lottery, that fame might come to hurt you later on.  Just some food for thought.

  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.
• Thomas Covenant

  

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  May 15, 2003, 9:29 am

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  Sign your ticket, but the printed name and address leave blank. If you win put the ticket in a safe place, form your trust, then write the name and address of the trust on the ticket. The public records will reflect the name of the trust, not your signature.
  
  And yes, if you sign your ticket, a lawyer with a Power of attorney can claim it on your behalf. Legally, a person with your Power of Attorney can act as if he/she is you.

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

  

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  May 15, 2003, 10:32 am

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  Hey TC

  What's

  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.
• Thomas Covenant

  

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  May 15, 2003, 10:52 am

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  I'm an almost Business Major. I'll have to finish one of these days. Yes, I would claim the prize in trust. You get fame for a month or so when you win. Newspapers, TV etc. but you get hounded by lottery groupies for years. Why do people expect you to give it all away when you win? Not me. If I win I would see it as a return on an investment. I would give some to charities, but only as part of an investment plan to reduce taxes. And only after I had everything properly invested.

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

  

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  May 19, 2003, 9:11 am

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  I wonder how much that would cost?

  legal fees?

  cost to form a trust?

  What ways exist to protect yourself from a ripoff by the lawyer claiming the ticket?

   

  I'll probably never have such problems, but if I do, I'd like to be well prepared ;-)

   
• midwstrngirl

  

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  May 19, 2003, 9:43 am

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  you protect yourself from r

  "It is an old maxim of mine, that when you have eliminated the impossible, whatever remains, however improbable, must be the truth. "

  "I presume nothing. I imagine nothing. Data! Data! Data! I can't make bricks without clay. "

  Sherlock Holmes, The Sign of Four
• visiondude

  

  light on my feet
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  May 19, 2003, 10:55 pm

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  Quote: Originally posted by hypersoniq on May 19, 2003

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  What ways exist to protect yourself from a ripoff by the lawyer claiming the ticket?

  
  
  

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  a shotgun and a picture of the lawyers family ought to do the trick (jk).
  
  
  
  VDQPLS

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

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

           until further notice,  it's  france everyday
• dowjones

  

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  May 26, 2003, 10:11 am

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  Quote: Originally posted by visiondude on May 20, 2003

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  Quote: Originally posted by hypersoniq on May 19, 2003

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  What ways exist to protect yourself from a ripoff by the lawyer claiming the ticket?

  
  
  
  
  

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  a shotgun and a picture of the lawyers family ought to do the trick (jk).
  
  
  
  VDQPLS
  
  

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  Yeah....when that picture has been sent to the "GODFATHER"...
  
  
  
  LOL