Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Lottery Winner may turn down jackpot
Old 02-07-2018, 11:04 AM   #1
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
RunningBum's Avatar
 
Join Date: Jun 2007
Posts: 9,302
Lottery Winner may turn down jackpot

https://www.npr.org/sections/thetwo-...rize-unclaimed

Hadn't seen this posted yet, unless it was buried in another thread I haven't read.

A woman hit a $559M Powerball jackpot but doesn't want to claim the prize unless she can do it anonymously. Trying to decide if she's being wise or not. Apparently she realizes her life is good and doesn't want to ruin it with the burden of the riches. (Please, everyone, spare us the line about having her send you the money and you'll take the burden.) But, why spend money on tickets if you aren't going to cash in?

She might have been able to claim it anonymously, or at least in a vaguely named trust, but she signed the ticket as I've heard is recommended. The lottery commission is saying that since she's done that, her name will be made public. They say they won't accept the ticket if she whites out or crosses out her name. She's got a lawyer who is still trying to find a way to keep her anonymous, and he is also her spokesman. The lawyer successfully kept a 2016 winner anonymous with a trust, and recommends on their website to NOT sign the ticket, but this winner apparently read this too late.

I suppose she could claim the prize and immediately change her name and relocate, like a witness relocation, but it sounds like she wants to keep her current life and friends.

Even if she tied it up in a trust, she will still be hounded for donations from that trust, and bad people figuring she still has money they can get from her either swindling or strong armed robbery.

Given the situation she's in now, unless they find another way to keep her anonymous, I think I'd spend the next year figuring out which charities to give 99+% of the money to, and only keep a very small amount (probably under $1M) which I could spend on my self but not be enough to be a target for anyone. I just don't think I'd like to live life surrounded by security and not trusting anyone new I met, and even being wary of old friends. It doesn't sound like she wants to either.
__________________

RunningBum is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 02-07-2018, 11:13 AM   #2
Thinks s/he gets paid by the post
 
Join Date: Feb 2014
Posts: 1,664
First World Problems.

Everyone knows when you win you are not private. She can hire a legion of guards to protect her. Cry me a river.
__________________

jim584672 is offline   Reply With Quote
Old 02-07-2018, 11:14 AM   #3
Thinks s/he gets paid by the post
 
Join Date: Jan 2006
Posts: 3,664
If I won the lottery I would sign the ticket and take the money without hesitation. I think the concerns are over exaggerated.
aaronc879 is offline   Reply With Quote
Old 02-07-2018, 11:17 AM   #4
Thinks s/he gets paid by the post
 
Join Date: Nov 2011
Posts: 3,441
If she did not want to win, why did she buy a ticket? Even the lottery ads remind, "You can't win if you don't play."
GrayHare is offline   Reply With Quote
Old 02-07-2018, 11:24 AM   #5
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
RunningBum's Avatar
 
Join Date: Jun 2007
Posts: 9,302
She may wind up taking it, but is just trying every opportunity to stay anonymous before she has to go public.
RunningBum is offline   Reply With Quote
Old 02-07-2018, 11:30 AM   #6
Thinks s/he gets paid by the post
 
Join Date: Aug 2004
Location: Laurel, MD
Posts: 4,978
I read the article twice and didn't notice anywhere that she may turn it down. It says the prize remains unclaimed while she pursues a legal remedy to claim it anonymously since she blew the chance to name a trust as owner of the ticket. I presume if that fails she will accept the publicity along with her winnings.
__________________
...with no reasonable expectation for ER, I'm just here auditing the AP class.Retired 8/1/15.
jazz4cash is online now   Reply With Quote
Old 02-07-2018, 11:30 AM   #7
Thinks s/he gets paid by the post
growing_older's Avatar
 
Join Date: Jun 2007
Posts: 2,657
What is the problem with crossing out the name and writing the new name? Or make a few creative additions and start the AmyOBL CoZldER YnaXmeCHANGE TRUST. I will be astonished if she turns down 500+ millions. I suspect that is lawyer posturing to help get publicity and sway the lottery board. Is the rule really you must write your name neatly and make no mistakes? Is this a penmanship lottery?
growing_older is offline   Reply With Quote
Old 02-07-2018, 11:47 AM   #8
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
RunningBum's Avatar
 
Join Date: Jun 2007
Posts: 9,302
Quote:
Originally Posted by growing_older View Post
What is the problem with crossing out the name and writing the new name? Or make a few creative additions and start the AmyOBL CoZldER YnaXmeCHANGE TRUST. I will be astonished if she turns down 500+ millions. I suspect that is lawyer posturing to help get publicity and sway the lottery board. Is the rule really you must write your name neatly and make no mistakes? Is this a penmanship lottery?
From the article:

Quote:
Steven Gordon, the woman's attorney, asked if she could white out her name and replace it with the name of a trust, reports The Union Leader, but lottery officials told her any change would invalidate the ticket and she'd lose her winnings
It makes sense. The reason for writing your name down is so that if you lose possession of the ticket somehow, you'd still have a chance to claim it, and nobody with a different name could claim it. Otherwise, someone could steal the ticket, and say, "I meant to write down the name of a trust (or lawyer or whatever), so I'm just going to cross this name out and write in the new one."
RunningBum is offline   Reply With Quote
Old 02-07-2018, 11:48 AM   #9
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
RunningBum's Avatar
 
Join Date: Jun 2007
Posts: 9,302
Quote:
Originally Posted by jazz4cash View Post
I read the article twice and didn't notice anywhere that she may turn it down. It says the prize remains unclaimed while she pursues a legal remedy to claim it anonymously since she blew the chance to name a trust as owner of the ticket. I presume if that fails she will accept the publicity along with her winnings.
That's true, that was my initial interpretation, that she might just turn it down if she can't claim it anonymously, but it wasn't actually mentioned.
RunningBum is offline   Reply With Quote
Old 02-07-2018, 11:56 AM   #10
Thinks s/he gets paid by the post
Car-Guy's Avatar
 
Join Date: Aug 2013
Location: Citizen of Texas
Posts: 3,838
It's BS, she'll take it one way or another no matter what is being said now.
Car-Guy is offline   Reply With Quote
Old 02-07-2018, 12:08 PM   #11
Moderator
Walt34's Avatar
 
Join Date: Dec 2007
Location: Eastern WV Panhandle
Posts: 20,925
I think her paranoia is a but much and overblown. Sure, someone who wins $559 million (which after taxes is really going to be a bit more than half of that) is going to be pestered a little bit but you just hire screeners and guards, if needed, to deal with that stuff for you. And that isn't going to last the rest of her life anyway, eventually the hubbub will die down, someone else will win a bigger jackpot, and she'll be all but forgotten in a few years at most.

Locally a retired sheriff won something like $10 million in the state lottery about ten years ago and he's given much, if not most of it away in community support projects, like a new gym for a school that didn't have one, an indoor community athletic center and some add-ons to the park system, stuff like that. I don't recall ever seeing an article that he was being pestered by sob stories and greedy relatives coming out of the woodwork and such.

A somewhat famous winner that did have a hard time with the lottery winnings was Jack Whittaker, who won $314.9 million in 2002. Despite already being a millionaire several times over he still managed to screw up pretty badly.

So I think it still comes down to who the person is, not who everyone else is.
__________________
I heard the call to do nothing. So I answered it.
Walt34 is offline   Reply With Quote
Old 02-07-2018, 12:43 PM   #12
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: May 2005
Posts: 15,414
Quote:
Originally Posted by RunningBum View Post
She may wind up taking it, but is just trying every opportunity to stay anonymous before she has to go public.

+1.... I have never read anywhere that she does NOT want the prize, only to not have her name made public...


In the end if she is stuck, I would be any amount of money she is going to take the winnings..
Texas Proud is offline   Reply With Quote
Old 02-07-2018, 12:47 PM   #13
Thinks s/he gets paid by the post
 
Join Date: Apr 2011
Posts: 2,894
Why didn't she just hand the ticket to someone else?
gerntz is offline   Reply With Quote
Old 02-07-2018, 01:26 PM   #14
Thinks s/he gets paid by the post
 
Join Date: Jan 2017
Posts: 1,409
I read the story in the NH papers when it first hit. IIRC she signed the ticket on advice of the lottery agency, then read a blog by a local attorney recommending against signing it. Now she's a client of that attorney.

So my first question is whether this attorney might be playing it up a bit, for the publicity, for the money, or for the sake of building a better case. He may or may not have his client's best interests in mind.

Assuming he does (who ever heard of a dishonest lawyer?), then what he said made a lot of sense; that she wants to be able to keep her friends, walk around town without being singled out, and avoid all the negative things that come with publicity. For all we know she may have family (like kids/grandkids in school) who would be impacted.

Sure, she could hire a squadron of guards. But who wants to live in an armed camp?

I hope it'll be possible to work things out, although being able to keep her identity secret seems like a long shot.

Personally, I'd endure the publicity. A half-billion would change my life no matter what, so I'd just accept the good with the bad. I could always grow a beard and wear sunglasses if I found a sudden desire to walk around town.
CaptTom is offline   Reply With Quote
Old 02-07-2018, 01:36 PM   #15
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
RunningBum's Avatar
 
Join Date: Jun 2007
Posts: 9,302
Quote:
Originally Posted by gerntz View Post
Why didn't she just hand the ticket to someone else?
Again, I worded the thread topic poorly. She wants the money, and hasn't said she won't take the money, but just wants to be anonymous. Apparently she thought she could claim the prize anonymously, but made a poor decision in signing the ticket.
RunningBum is offline   Reply With Quote
Old 02-07-2018, 01:41 PM   #16
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Amethyst's Avatar
 
Join Date: Dec 2008
Posts: 8,486
I think she's in shock and this is how she reacts to it. She could change her name to Alfred E. Neumann, and people who want to bother her, or are merely curious, will still figure out who won the half-billion. I bet a bunch of people already have figured it out.
__________________
If you understood everything I say, you'd be me ~ Miles Davis
'There is only one success to be able to spend your life in your own way. Christopher Morley.
It involved a mannequin hand, and an electric shaver taped to a golf club! - "The Other Guys"
Amethyst is offline   Reply With Quote
Old 02-07-2018, 02:28 PM   #17
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
easysurfer's Avatar
 
Join Date: Jun 2008
Posts: 10,379
I heard that she's spending a fortune on legal fees trying to stay anonymous.
__________________
Have you ever seen a headstone with these words
"If only I had spent more time at work" ... from "Busy Man" sung by Billy Ray Cyrus
easysurfer is online now   Reply With Quote
Old 02-07-2018, 02:33 PM   #18
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Amethyst's Avatar
 
Join Date: Dec 2008
Posts: 8,486
Quote:
Originally Posted by easysurfer View Post
I heard that she's spending a fortune on legal fees trying to stay anonymous.
Hah! All the lawyers can t stop a determined person with a little detective know-how. She has effectively set herself up as a challenge to certain types of snoop.
__________________
If you understood everything I say, you'd be me ~ Miles Davis
'There is only one success to be able to spend your life in your own way. Christopher Morley.
It involved a mannequin hand, and an electric shaver taped to a golf club! - "The Other Guys"
Amethyst is offline   Reply With Quote
Old 02-07-2018, 02:34 PM   #19
Thinks s/he gets paid by the post
Souschef's Avatar
 
Join Date: Dec 2015
Location: Santa Paula
Posts: 2,814
There are many stories of lottery winners losing it all, be poisoned, murdered, etc. Just Google Lottery Losers.
The advice I heard was that the first thing you do is change your phone number.
__________________
Retired Jan 2009 Have not looked back.
AA 50/45/5 considering SS and pensions a SP annuity
WR 2% with 2SS & 2 Pensions
Souschef is online now   Reply With Quote
Old 02-07-2018, 02:42 PM   #20
Thinks s/he gets paid by the post
Senator's Avatar
 
Join Date: Feb 2014
Location: Williston, FL
Posts: 3,925
With that kind of money, you can buy an island. And you do not even need a phone or mail box anymore.
__________________

__________________
FIRE no later than 7/5/2016 at 56 (done), securing '16 401K match (done), getting '15 401K match (done), LTI Bonus (done), Perf bonus (done), maxing out 401K (done), picking up 1,000 hours to get another year of pension (done), July 1st benefits (vacation day, healthcare) (done), July 4th holiday. 0 days left. (done) OFFICIALLY RETIRED 7/5/2016!!
Senator is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
$590 million lottery winner still has LBYM habits omni550 Other topics 13 06-14-2013 01:09 PM
Lottery winner laying low LOL! Other topics 4 02-01-2010 07:00 PM
23 year old lottery winner.............. Dawg52 Other topics 13 06-07-2009 07:13 AM
Jackpot winner Space Mountain Other topics 5 06-23-2008 12:53 AM
Lottery Winner to become Accountant TromboneAl FIRE and Money 30 02-24-2006 04:17 PM

» Quick Links

 
All times are GMT -6. The time now is 09:21 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2020, vBulletin Solutions, Inc.
×