How to claim a lottery jackpot?

[mikegg]

I've always wondered, how do you claim a mega jackpot of a lottery? Remember the Mega Millions was over 600 million at one point this year? If you win, what's the process to obtaining it?

Do you call them and some lowly operator picks up the phone? That'd be scary, isn't it? Do they send a limo to your house and the president of the lottery system comes to greet you?

I can't even fathom trusting anyone afterwards with a $600 million dollar ticket on hand - even lottery employees.

 

[RossMAN]

Roughly $108 million after taxes and such. Spend about $15 million to get it out your system and invest the rest.

 

[Baked]

Don't worry about it, you won't win. Nobody wins. It's a government scam to take more money from the stupid and poor. The people who win are hired actors.

 

[Auric]

"Baked will be taken into custody at a minimal monetary expenditure. Total operation cost: six thousand credits under budget. Congratulations. Be efficient, be happy."

 

[thestrangebrew1]

Not 100% sure but I think you have to take the winning ticket to your states lottery commission office. if I were 1 to win a jackpot, I'd go straight there. I wouldn't bother going to a store in town to double check. I think if I did go to the store to verify the paranoia would set in.

 

[sixone]

Before you do anything, get a lawyer to protect your privacy, and a financial adviser to protect the money.

 

[mryellow]

For large prizes (over 100k? something like that) you have to go to the lottery headquarters in your state. Any smaller amount can be awarded at the satellite office. As far as anonymity goes the rules for states differ although I think that going through a lawyer to set up some sort of entity to receive the prize has worked in the past to remain anonymous.

 

[tcsenter]

I've always wondered, how do you claim a mega jackpot of a lottery? Remember the Mega Millions was over 600 million at one point this year? If you win, what's the process to obtaining it? Do you call them and some lowly operator picks up the phone?

Yes, basically. But you don't give any personally unique information over the phone. They would basically ask you where and when you purchased the ticket, including the approx. time, and perhaps even ask for the ticket number (or part of the unique identifier, if human readable), and strongly recommend that you sign the ticket and keep it in a safe place. But even if you refused to provide this information, they would still say that you need to present the ticket at the main/primary state lottery office during office hours and you must provide adequate/accepted identification including a valid SS#.

Oh and an interesting fact some people don't know. Even if you lost the ticket, it is still possible to collect. There will be an investigation, which might include security video from the lottery retailer. If the preponderance of evidence leaves little question that you were the purchaser of the winning ticket, even if you lost it, the state would award you the money.

 

[BUTCH1]

Here in FL you can "validate" the winning ticket and identify yourself (each ticket has a # printed on it) then drive to Tallahassee to redeem it. If I won I would seek the advise of a CPA before I do anything, some suggest you incorporate yourself so anyone you hire to do anything can't come after the mother-load in a lawsuit, just try and sue your corporation (which you fund enough to pay for services and such)..

 

[Squisher]

Best thing is to put it in a safe deposit box,then a lawyer and the lawyer will contact the commission and help arrange safe transport of the ticket to the commission.

 

[RadiclDreamer]

Don't worry about it, you won't win. Nobody wins. It's a government scam to take more money from the stupid and poor. The people who win are hired actors.

I had some family win around 8 Mil in the ohio lottery years ago, blew it all, not actors

 

[dawp]

Don't worry about it, you won't win. Nobody wins. It's a government scam to take more money from the stupid and poor. The people who win are hired actors.

actually no, I had some co-workers win a 20mil jackpot once, split between around 20 -25 they ended up with about $900k each.

 

[MagickMan]

Don't worry about it, you won't win. Nobody wins. It's a government scam to take more money from the stupid and poor. The people who win are hired actors.

You must be a joy to hang out with. hahaha

 

[mikegg]

Best thing is to put it in a safe deposit box,then a lawyer and the lawyer will contact the commission and help arrange safe transport of the ticket to the commission.

I honestly don't know if I'd trust a laywer with a $600 million ticket though. Like others have said, I might just drive straight to the office.

But I don't know if I could drive after winning. I'll probably be shaking. Might get a family member to drive me there but don't tell that person so he/she won't get nervous too?

Not that I think I'd ever win the lottery but I'd be extremely paranoid from the time I find out that I won to the time I collect the money.

 

[Squisher]

I honestly don't know if I'd trust a laywer with a $600 million ticket though. Like others have said, I might just drive straight to the office.

But I don't know if I could drive after winning. I'll probably be shaking. Might get a family member to drive me there but don't tell that person so he/she won't get nervous too?

Not that I think I'd ever win the lottery but I'd be extremely paranoid from the time I find out that I won to the time I collect the money.

You wouldn't have to trust the lawyer. The safe deposit box would be in your name and when you met with the lawyer a legal contract would be signed by both of you detailing the lawyer's responsibilities.

It's not like they hand you the cash when you present the ticket. If the lawyer were to claim it was his, he'd be in jail in short order.

 

[ViviTheMage]

I would just drive to the local office.

 

[diesbudt]

Taxes on Lottery is 35% in 2012.

Claiming the prize in 1 large sum will yield $327 million. (before taxes) [$212 million after taxes]

Best way to claim prize?

Hire a lawyer and ana accoutant (Keep eyes on each other and yoru funds) and then through your lawyer accept the prize annonymously.

 

[Capt Caveman]

First thing, sign the back of the winning ticket.

 

[Svnla]

Some states you can remain annonymous (Kansas IIRC) but some states can and will demand you make public apprearances (with that huge check) for publicity stunts if you win the big one. Here is what I can find so far:

If I win, can I remain anonymous?

If you win more than $600 and are therefore required to claim your prize at a Lottery office, you will be required to complete a claim form for tax purposes. Under the Lottery's statue, all prize payment records are open records, meaning that the public has a right to request the information. Depending upon the amount won and public or media interest in the win, winners may NOT be able to remain anonymous. The statute also allows the Lottery to use winners' names and city of residence for publicity purposes such as news releases. The Lottery's regular practice is not to use winner information in paid advertising or product promotion without the winner's willingness to participate.

 

[HomerJS]

Before you do anything, get a lawyer to protect your privacy, and a financial adviser to protect the money.

Winners are made public. Lawyer helps you disapear afterwards.

 

[Vdubchaos]

Before you do anything, get a lawyer to protect your privacy, and a financial adviser to protect the money.

1 and 2 are correct

3 on the other hand. There is no such a thing as a Financial Adviser that works in your interest. They usually work for THEIR interest.

For example, no Financial Adviser will tell a person to pay off their debt, save 6-9 months for emergency fund etc. They will most likely tell you to invest your money in what THEY believe in and what will make THEM money.

There is only ONE financial adviser, and that's YOU.

 

[LTC8K6]

First thing, sign the back of the winning ticket.

Bingo!

 

[Capt Caveman]

1 and 2 are correct

3 on the other hand. There is no such a thing as a Financial Adviser that works in your interest. They usually work for THEIR interest.

For example, no Financial Adviser will tell a person to pay off their debt, save 6-9 months for emergency fund etc. They will most likely tell you to invest your money in what THEY believe in and what will make THEM money.

There is only ONE financial adviser, and that's YOU.

Incorrect.

 

[iRONic]

Incorrect.

I have said that very same thing regarding many of his posts. *shrug*