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As of Friday, He hadn't officially come forward just yet. I'm guessing someone convinced him to cool his jets and seek some legal / financial advice. I'm not sure just who in the local area would be up to speed for helping in dealing with this young fellows new found challenges.
Taking time to claim the prize is a good sign in this situation. It will take some time to set up the most advantageous situation to claim the prize while minimizing tax liability and retaining as much privacy as possible.
Taking time to claim the prize is a good sign in this situation. It will take some time to set up the most advantageous situation to claim the prize while minimizing tax liability and retaining as much privacy as possible.
My neighbor is a senior manager at ZF. She says she knows the winner and the person is still working at ZF for now.
Is this starting to seem odd? I mean.. Kind of a long time to not claim the prize. Unless they're going to do some big surprise to their family at Christmas.. Or.. Maybe they're not claiming so that their family doesn't complain about a small Christmas or something..
Is this starting to seem odd? I mean.. Kind of a long time to not claim the prize. Unless they're going to do some big surprise to their family at Christmas.. Or.. Maybe they're not claiming so that their family doesn't complain about a small Christmas or something..
They're probably getting things lined up. I would. It's right at 1 billion. I think having a plan is a good idea.
Just setting up a trust might take longer than the elapsed time, let alone other preparations.
Quote:
Originally Posted by DSMRE
They're probably getting things lined up. I would. It's right at 1 billion. I think having a plan is a good idea.
2+ Months is a long time to setup a trust. And.. Technically, it's more about 450 million. Assuming they take the lump sum, that takes it from the 1.5 Billion down to about $900 million or so.. Then $60 million to the state, and 390 million to the feds for taxes.
I suppose the person could be running the hell to a state with no income taxes before claiming.. Not sure of the legalities of that.
Plus.. The longer they don't claim, the more possible something could happen. The ticket getting destroyed, whatever. I mean, that's a long shot.. I'd have the bastard in a safe deposit box somewhere, but once you claim.. It's yours. So, I'd think any advisor would recommend being cautiously quick. Get your plan in place, but get the ticket claimed fairly quickly. At least, I'd think before a couple of months. I can see a few weeks, but a few months?
Quote:
Originally Posted by furmanpals
How do you know the prize has not been claimed?
We may never know WHO claims it. But the fact that it has or hasn't been claimed is publically available info. The person who claims can remain anonymous, but not the fact the prize was claimed.
Basically, if you blew money like a pimp with a week to live before you won the lottery, you'll blow money with a week to live after you win the lottery.
If you are prudent with your money before you win the lottery, you'll be prudent with money after you win the lottery.
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