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Depends on the state. Some lottery tickets are held by LLCs.
If your identity is revealed. you pretty much have to cut yourslef off form everyone you know including your family. They will all hate you anyway. No matter how much you give them, they will fell it is not enough. Plus jealousy. Every family member is at risk of getting kidnapped as are you. You will be endlessly hounded by people with really sad stories that just need money to resolve and save the day. Some of them might even be true. You will be begged, threatened, cajoled by everyone you know and everyone you do not know.
To keep from ruining your life, you can publicly give the money away all at once. You might be able to stash some into trust funds for family members and yourself, and then give away the rest.
Then of course there is the problems with what extreme wealth does to people's personality. The begin to think they are better than other people and they is why they have so much more resources. This happens to almost all of them eventually. They get paranoid about losing the money and start to think everyone they know or meet is trying to get it from them (often they are correct). they become isolated and depressed, start partying and trying to make themselves feel better with excessive spending. That usually only makes them feel guilty consciously or subconsciously. Suicide is fairly common end result. So is addition. Most die lonely. .
There is a lot of truth to this whole post. I knew a guy that won 23 million combined in two jackpots. He was his own worst enemy. Nobody tried kidnapping him but he was a sucker for a sad luck story and he would write the checks!
I'd collect it in a trust/llc with a goofy name:
Newa family trust:
Never
Ever
Working
Again!
Plenty of people can dodge the press, he likely should have left CA for a while or buy the house in a trust that did not include his name. Everyone in the transaction needed to sign non-disclosure-agreements (NDAs) and it would have been just another house deal.
Buying that house and having it all over the news was definitely a rookie mistake.
No. This happened back in 2010 when the power ball first came out in Va. It was in the paper there. He had 4 numbers and the power ball. Since anything over $600, you had to take it to the lottery office. His wife took it to the office in Fairfax. The people at the office told her that she couldn't cash it because he was the only one that could redeem it.
No. This happened back in 2010 when the power ball first came out in Va. It was in the paper there. He had 4 numbers and the power ball. Since anything over $600, you had to take it to the lottery office. His wife took it to the office in Fairfax. The people at the office told her that she couldn't cash it because he was the only one that could redeem it.
Read the back of any lottery ticket.
It still sounds like an old wives tale.
I googled combinations of 2010 Virginia lottery signature death because obviously there would be a news story about this if it, you know, happened.
I found nothing.
I was 95% sure it was an old wives tale when I originally posted that. Now I am closer to 99% sure.
Of course you could take that to 0% with a simple link to a news story. I won't hold my breath.
Mr Castro is being accused of not being the rightful owner of the lottery ticket. The accuser said someone named Reggie stole it from him, then Reggie tried to get him to agree to split it, he would not. It's not been said how this person thinks Castro got the ticket from Reggie.
The accuser is asking the video from the store that sold the ticket, be preserved so that it can be watched to show that Castro did not purchase it, that it was in fact him who did. The guy is saying all the right things like he did buy it. I don't know what to believe.
The article claims the lottery has already viewed the recording where Castro is seen buying the ticket.
Castro has bought two mansions that cost multiple millions of dollars plus a vintage Porsche.
Powerball winner Edwin Castro is fighting back against the man who is suing him, claiming that he is the rightful owner of the winning lottery ticket
Jose Rivera says that after the ticket was stolen from him, a man named 'Reggie,' tried to blackmail him and refused to give it back
Castro also says he was never served with the appropriate paperwork in relation to the suit as a process server gave the paperwork to his father by mistake
Quote:
Rivera is demanding $2.04 billion in his suit, the jackpot amount.
Workers at the Service Center told DailyMail.com there was little evidence to support claims the ticket was stolen.
'California Lottery have strict regulations about how they choose a winner, this guy is crazy, he came in here with his attorney yelling about it and there's nothing we can do,' a worker said.
The employee added lottery officials obtained surveillance video and went through it frame by frame for the vetted winner.
'When it comes to the vetting process for big winners, California Lottery has the utmost confidence in its process for doing so,' the California lottery said in a statement to DailyMail.com.
'California Lottery remains confident that Edwin Castro is the rightful winner of the $2.04billion prize stemming from the Powerball drawing in November of 2022.
Castro has been living large since his winning, buying two separate California mansions for a total of $29 million. He was also seen driving away from a bank in a vintage Porsche.
One of his new homes is a $4million mansion in the Los Angeles area. The home comes with its own home theater, private office and expensive artwork, which is sure to be improved given Castro's hefty new bank balance.
The Altadena home is only a short drive from where Castro grew up.
If Castro tires of the $4 million estate, he is only around 20 miles from his second California complex, which he bought for $25 million just eight days prior.
It seems that Castro will be one of those spend-spend-spend lottery winners who loses his head and thinks he will never run out of money.
It's not that hard to go through a billion. Buy high-value art for your two mansions, install security systems, have bodyguards wherever you go in public. Splurge on expensive flying machines like Tom Cruise. Hey, a Pilatus PC-12 is "only" $5 million. And it can be flown by one person. I hate to think about maintenance costs on a PC-12.
I have respect for lottery winners who understand that once the money is gone, it's gone. So they invest it conservatively, donate to worthy charities, set up scholarships. And they do it quietly. It's not glamorous, but that's what responsible people do.
It seems that Castro will be one of those spend-spend-spend lottery winners who loses his head and thinks he will never run out of money.
It's not that hard to go through a billion. Buy high-value art for your two mansions, install security systems, have bodyguards wherever you go in public. Splurge on expensive flying machines like Tom Cruise. Hey, a Pilatus PC-12 is "only" $5 million. And it can be flown by one person. I hate to think about maintenance costs on a PC-12.
I have respect for lottery winners who understand that once the money is gone, it's gone. So they invest it conservatively, donate to worthy charities, set up scholarships. And they do it quietly. It's not glamorous, but that's what responsible people do.
I agree, he's buying things like he has tons of money. It will run out if he keeps it up.
I do wonder if it's true that he didn't buy the ticket. I'm seeing articles where people are saying the other guy was the one who had the winning ticket, that they saw him with it.
Why do they always have to buy these overpriced insane mansions?
Does one really need a movie theater and bowling alley in their home??
I think I am a real simple person, but I don't find any of those mansions appealing to live in at all. I don't want 12 cars, I don't think id even want 5 houses.I would though invest the money so that it will never run out and always make money.
Like another poster sated, would not leave it to nephews / nieces where they don't ever have to work, because their goals and ambitions might be altered...
I am an animal lover, I know Id donate to animal rescue places and the like.
and on this note, I had planned to play lotto and mega millions after my visit to CVS to confirm the medication, and to my dismay, the quantity was wrong and had to go home asap to call and correct it, therefore forgetting to go to the bodega and play my lotto tickets.
Oh well, I can put them thru tomorrow. I have no emotion or feelings or meanings over numbers so if it wins, it wins, if it don't, I cry.....
If there is a time to win the lottery, at least in the northeastern United States and eastern Canada is now. With the Canadian forest smoke covering a huge swathe, you might be able to claim your prize while wearing a mask. Never take it off for "health reasons" even if in the lottery building there is central a/c where the air is purified. lol
Very interesting article about the alleged theft of the winning ticket, and how that might have allegedly taken place.
I read a book a looong time ago about coming into sudden wealth, whether lottery win, accident/lawsuit settlement, or inheritance.
As for lottery:
Rule 1) secure the ticket
Rule 2) keep your mouth shut
And there are other things about getting the right financial team, preparing to stay anonymous, drop out of sight, etc. But without 1) and 2) you may not have to worry about the others.
Be careful signing the ticket. I remember when the lottery first came out, a man had a winning ticket that he purchased for the lottery that was held on Friday night. He found out that night that he won and signed the ticket because the lottery office was closed until Monday. Unfortunately, he died on Sunday. His wife tried to claim the ticket, but was told since he signed the ticket, he was the only one that can claim the ticket.
Oh my gosh. She lost her husband and her fortune in the same weekend?
If I were to win I'd march right to a bank and get a security deposit box or whatever those things are called. But I don't understand the need for a long delay. I'd consult my brother who is an attorney for advice but I'm pretty sure I'd just go into the office and claim it, if possible I'd try to prevent my identity from being revealed.
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