The Straight Dope

Go Back   Straight Dope Message Board > Main > In My Humble Opinion (IMHO)

Reply
 
Thread Tools Display Modes
  #1  
Old 03-29-2012, 01:21 PM
joebuck20 joebuck20 is online now
Guest
 
Join Date: Jan 2009
Getting a lawyer if you win the lottery

One of the first things people say to do if you win the lottery is get a lawyer. But, as silly as this question may sound, just what is it that a lawyer will do for you in this situation?

I assume the state isn't going to try to rip you off in awarding you your millions. I like to think I'm smart enough to ward off any random scammers that might come knocking on my door or calling me out of the blue. Any investments I might make, or stocks, bonds, retirement plans I might buy, will be strictly through a reputable financial planner. I'll get a good accountant to work out the tax issues.

I guess estate planing would be something that you would need a lawyer for. As my wife and I are fairly young and don't have any kids yet, I don't know if that would a particularly complicated matter to sort out, though, and something I'd need a full time lawyer for.

And just what type of lawyer should one seek out? And how do you seek out one that won't rip you off? As someone who's only ever had to use a lawyer to get out of speeding tickets, I wouldn't have much idea where to start looking for a lawyer who handles the types of issues that might arise with a massive lottery win.

Last edited by joebuck20; 03-29-2012 at 01:26 PM..
Reply With Quote
Advertisements  
  #2  
Old 03-29-2012, 01:37 PM
Tapioca Dextrin Tapioca Dextrin is offline
Charter Member
 
Join Date: Dec 1999
Location: Staring blankly at my GPS
Posts: 11,245
Off the top of my head, there will be a lot of financial contracts. Buying a helicopter and/or Ferrari, paying off the in-laws, giving a million to the Moonies etc. All these things need contracts and having a lawyer take of the paperwork saves a lot of heartburn in the future.
Reply With Quote
  #3  
Old 03-29-2012, 01:38 PM
Folacin Folacin is offline
Guest
 
Join Date: Oct 2008
I think most people are hoping the lawyer could help them claim the prize anonymously.

Beyond that, yeah, I guess estate planning would be the big thing. Of course, if you do what the majority of folks do (per the urban legend) and invest it in hookers and blow, you won't need to deal with estate planning. So, more hookers and blow.
Reply With Quote
  #4  
Old 03-29-2012, 01:44 PM
muldoonthief muldoonthief is offline
Member
 
Join Date: Jul 2003
Location: North of Boston
Posts: 6,936
Quote:
Originally Posted by Folacin View Post
I think most people are hoping the lawyer could help them claim the prize anonymously.

Beyond that, yeah, I guess estate planning would be the big thing. Of course, if you do what the majority of folks do (per the urban legend) and invest it in hookers and blow, you won't need to deal with estate planning. So, more hookers and blow.
And just who do you think can link you up with the best hookers & blow?
Reply With Quote
  #5  
Old 03-29-2012, 01:54 PM
Dallas Jones Dallas Jones is offline
Guest
 
Join Date: Apr 2008
You hire a lawyer and an accountant to check things out before you sign them and to keep track of your tax and legal liabilities. You may also want access to a good lawyer to protect you from the wacko/vultures/relatives/charities/ex-girlfriends, etc. that come with the prize.

Then you will need to hire another lawyer and another accounting service to audit your main team to make sure they are not ripping you off.

After that, it's lawyers and accountants all the way down.
Reply With Quote
  #6  
Old 03-29-2012, 01:59 PM
Joey P Joey P is online now
Charter Member
 
Join Date: Jun 1999
Location: Milwaukee, WI
Posts: 20,239
Quote:
Originally Posted by joebuck20 View Post
One of the first things people say to do if you win the lottery is get a lawyer. But, as silly as this question may sound, just what is it that a lawyer will do for you in this situation?

<snip>

I'll get a good accountant to work out the tax issues.
I think a lot of people might say lawyer but mean accountant/CPA. I assume people want a lawyer to deal with the tax issues and since that's a 'law thing' their mind goes right to 'lawyer'. Most people only deal with an accountant/CPA once a year, if that, but they hear about lawyers all the time on TV and talking to other people.

OTOH, my dad (and there for me as well) has always said that if he ever one the lottery the first person he'd tell is his CPA. But since our family owns a business, we've always had a CPA close by to handle our money issues so it's a lot more natural for us to think about an accountant whenever money comes up.
Reply With Quote
  #7  
Old 03-29-2012, 02:01 PM
sitchensis sitchensis is offline
Guest
 
Join Date: May 2010
My own opinions on how to deal with the money as it pertains to family and friends would involve multiple trusts. So I would need a lawyer.
Reply With Quote
  #8  
Old 03-29-2012, 02:05 PM
indyvet indyvet is offline
Guest
 
Join Date: Aug 2007
Folacin beat me to it.

I would secure the services of a lawyer so that I could collect the winnings anonymously. While this would not prevent a determined scammer from learning my identity, it would certainly minimize the amount of incoming requests for money from random crackpots.

The other major benefit to having an estate planning lawyer on retainer would be the vast difference in responsibilities between my current day to day life, and my responsibilities after winning half a billion dollars. When it comes to being rich, I am not even aware of how poorly informed I am. I would need assistance in making the transition from being a wage earner to a person of means. I would want someone with a firm grasp of liability to guide me through that process. When a poor person pulls a dumb stunt, what are you going to do? Sue them? When a rich person makes a mistake, the consequences can be quite different.

I'm not saying I'd need someone to run me through a knife and fork academy, but I would definitely need to learn how to avoid making myself a flashing neon target for a litigious deadbeat. I have enough people that I would voluntarily support. I don't need to be adding any jackasses to my list of monthly payments just because I didn't know how to handle my affairs.

Not everyone will feel this way. A lot of people are easy come, easy go with money. I am not one of those people.

Last edited by indyvet; 03-29-2012 at 02:07 PM.. Reason: Too long composing, fell behind on the thread.
Reply With Quote
  #9  
Old 03-29-2012, 02:13 PM
hajario hajario is offline
Charter Member
 
Join Date: Apr 2001
Location: Santa Barbara, California
Posts: 12,752
Quote:
Originally Posted by indyvet View Post
Folacin beat me to it.

I would secure the services of a lawyer so that I could collect the winnings anonymously.
In some places, California being one of them, you can't collect the prize anonymously.
Reply With Quote
  #10  
Old 03-29-2012, 02:27 PM
Eve Eve is offline
Guest
 
Join Date: Dec 1999
Quote:
Originally Posted by joebuck20 View Post
One of the first things people say to do if you win the lottery is get a lawyer. But, as silly as this question may sound, just what is it that a lawyer will do for you in this situation?
Well, if I win the lottery, I can hire Hugh Jackman to dress up like a lawyer and enact scenes from To Thrill a Mockingbird or A Few Really Good Men for me.
Reply With Quote
  #11  
Old 03-29-2012, 02:40 PM
Voyager Voyager is offline
Member
 
Join Date: Aug 2002
Location: Deep Space
Posts: 33,433
I have a trust and estate plan (in California it is very common) but the intricacies of it would be far greater with hundreds of millions of dollars. You might not have any kids now, but you'd want them to be protected from the second they popped out. We found our estate lawyer was very helpful in guiding us through all the far-fetched possibilities. I agree with collecting it anonymously, if possible.

I have a good financial planner, but if I won that much money I'd get two more in different companies, and split my investments among them. I'd not want to put all my nest-eggs in one basket.
Reply With Quote
  #12  
Old 03-29-2012, 02:41 PM
Frank Frank is online now
Charter Member
Charter Member
 
Join Date: Jul 2002
Location: Reading, Massachusetts
Posts: 17,215
I'd need a tax lawyer or a CPA as part of my winnings would be going to family members, and I'd want to structure it to minimize tax liabilty for all of us.

As far as telling random strangers to fuck off, I don't need a lawyer for that. ETA: Possibly a social secretary.

Last edited by Frank; 03-29-2012 at 02:41 PM..
Reply With Quote
  #13  
Old 03-29-2012, 02:43 PM
RealityChuck RealityChuck is offline
Charter Member
 
Join Date: Apr 1999
Location: Schenectady, NY, USA
Posts: 34,883
An accountant seems more important at first than a lawyer. He'd know how to reduce your tax liabilities. A financial adviser is also very important in planning a strategy on what to do with the money.

A lawyer comes next.
Reply With Quote
  #14  
Old 03-29-2012, 03:55 PM
dzeiger dzeiger is offline
Guest
 
Join Date: Jan 2009
First call is to a doctor that specializes in vasectomies. That should help prevent many of the possible scenarios in which a lawyer would be needed later.
Reply With Quote
  #15  
Old 03-29-2012, 04:10 PM
Al Bundy Al Bundy is offline
Guest
 
Join Date: Apr 2010
Start at the beginning

Sure, an account and financial adviser can help you invest downline. That's after you collect. Before you submit the ticket an attorney can advise you how to present that ticket. Do you present as a single owner? Does your wife or other family member become a co-owner. Maybe there is a close friend or relative who you would give a substantial amount to. You might want to include them as a co-owner to begin with and save taxes. It is seldom smart to play at another person's profession. An hourly fee for legal advise could save millions.
Reply With Quote
  #16  
Old 03-29-2012, 04:35 PM
Kimmy_Gibbler Kimmy_Gibbler is offline
Guest
 
Join Date: Mar 2009
Quote:
Originally Posted by Tapioca Dextrin View Post
Off the top of my head, there will be a lot of financial contracts. Buying a helicopter and/or Ferrari, paying off the in-laws, giving a million to the Moonies etc. All these things need contracts and having a lawyer take of the paperwork saves a lot of heartburn in the future.
Why would you think you need a lawyer to give money to relatives or to a religious group or charity? Do you give money to any of these groups now? Have you ever needed to document the gift in writing?

As for what you might need a lawyer for, estate planning certainly is one aspect. But even more pressing than planning for your death, let's hope, is planning for its partner in inevitability: how to minimize the tax impact of the winnings.
Reply With Quote
  #17  
Old 03-29-2012, 04:43 PM
msmith537 msmith537 is offline
Guest
 
Join Date: Jan 2001
Technically you don't need any of that stuff. You can just declare your lottery winnings as "other income" and pay taxes accordingly. In fact, I don't know how you would even get around that. But then again, I'm not a CPA.

You'll probably want to buy a new house. You need a lawyer for that.

You'll probably want to talk to a financial planner. Most large financial institutions have "high net worth individual planning" services.

Also, you're part of the 1% now, so you need to stop thinking like a 99%. It's fine to give money away to charity and whatnot. But just remember that 99% of the world now hate-envies you and will constantly be trying to figure out ways to separate you from your hard-won earnings.
Reply With Quote
  #18  
Old 03-29-2012, 04:56 PM
sitchensis sitchensis is offline
Guest
 
Join Date: May 2010
Quote:
Originally Posted by Kimmy_Gibbler View Post
Why would you think you need a lawyer to give money to relatives or to a religious group or charity? Do you give money to any of these groups now? Have you ever needed to document the gift in writing?

As for what you might need a lawyer for, estate planning certainly is one aspect. But even more pressing than planning for your death, let's hope, is planning for its partner in inevitability: how to minimize the tax impact of the winnings.
If you are giving a lot of money you have to document it and pay gift tax. Charitable donations are tax deductable. Why wouldn’t you document this stuff?
Reply With Quote
  #19  
Old 03-29-2012, 05:03 PM
Brynda Brynda is offline
Guest
 
Join Date: Aug 2000
Fascinating to me that when people are contemplating winning more money than they could reasonably spend, the first thought for so many is making sure they pay as little tax as possible. So you win $500 million and $250 million goes to taxes. You still have $250 million. Geez.
Reply With Quote
  #20  
Old 03-29-2012, 05:11 PM
Joey P Joey P is online now
Charter Member
 
Join Date: Jun 1999
Location: Milwaukee, WI
Posts: 20,239
Quote:
Originally Posted by Brynda View Post
Fascinating to me that when people are contemplating winning more money than they could reasonably spend, the first thought for so many is making sure they pay as little tax as possible. So you win $500 million and $250 million goes to taxes. You still have $250 million. Geez.
I always think it's funny that when you tell someone that the lottery is at (for example) $10 million they'll almost always say "Yeah, but it's only like 7 million after taxes" Ummm, so, you don't want the 7 mil then? They act like after taxes they'll be left with fifty bucks and it's not even worth the trip to the gas station to get the ticket.
Reply With Quote
  #21  
Old 03-29-2012, 05:12 PM
Taomist Taomist is offline
Guest
 
Join Date: Jul 2009
<is wondering whether the OP needs answer fast>
Reply With Quote
  #22  
Old 03-29-2012, 05:23 PM
Asimovian Asimovian is offline
Pseudolegal
 
Join Date: Mar 2005
Location: Southern California
Posts: 7,780
Quote:
Originally Posted by Brynda View Post
Fascinating to me that when people are contemplating winning more money than they could reasonably spend, the first thought for so many is making sure they pay as little tax as possible. So you win $500 million and $250 million goes to taxes. You still have $250 million. Geez.
We're just concerned about losing some of the cash we'd otherwise share with our good friends.
Reply With Quote
  #23  
Old 03-29-2012, 05:26 PM
janeslogin janeslogin is offline
Guest
 
Join Date: Aug 2008
There is at least one lawyer in Reno who specializes in large winnings. Shouldn't be too hard to find him. I've no idea what he does. I can see why you would want one e.g. creating a foundation to manage your winnings.
Reply With Quote
  #24  
Old 03-29-2012, 05:34 PM
Kimmy_Gibbler Kimmy_Gibbler is offline
Guest
 
Join Date: Mar 2009
Quote:
Originally Posted by sitchensis View Post
If you are giving a lot of money you have to document it and pay gift tax. Charitable donations are tax deductable. Why wouldn’t you document this stuff?
There is a gift tax, true, and it is typically paid by the donor. Charitable deductions are actually tax deductible (within parameters). You also have a unified estate and gift tax credit of about $1.8 million, so if you're not giving away too much and have the good taste not to die in your giftng-year, you should be good. See http://www.irs.gov/publications/p950...blink100099451

I don't think the above undermines my point (I dare say it bolsters it) that what you need the lawyer for is tax planning and not really contracts to give gifts (which, of course, is a contradiction in terms).

Considering that the question in the OP was not, "You win the lottery, should you keep any records? LOL!" but rather "What kind of tasks would you need a lawyer to do if you won the lottery?", I think some precision in the response is called for.
Reply With Quote
  #25  
Old 03-29-2012, 05:40 PM
Joey P Joey P is online now
Charter Member
 
Join Date: Jun 1999
Location: Milwaukee, WI
Posts: 20,239
Quote:
Originally Posted by Kimmy_Gibbler View Post
Considering that the question in the OP was not, "You win the lottery, should you keep any records? LOL!" but rather "What kind of tasks would you need a lawyer to do if you won the lottery?", I think some precision in the response is called for.
So what you probably need is a tax attorney. Who may very well be a CPA or who at the very least has CPAs working for him/her (possibly as paralegals).
Reply With Quote
  #26  
Old 03-29-2012, 05:59 PM
Brynda Brynda is offline
Guest
 
Join Date: Aug 2000
Quote:
Originally Posted by Asimovian View Post
We're just concerned about losing some of the cash we'd otherwise share with our good friends.
Do I count as a good friend? If so, okay, you can worry about taxes.
Reply With Quote
  #27  
Old 03-29-2012, 06:12 PM
Asimovian Asimovian is offline
Pseudolegal
 
Join Date: Mar 2005
Location: Southern California
Posts: 7,780
Quote:
Originally Posted by Brynda View Post
Do I count as a good friend? If so, okay, you can worry about taxes.
If I win half a billion dollars, I will gladly pay the taxes on your relocation fees to move to LA. You're welcome!
Reply With Quote
  #28  
Old 03-29-2012, 07:04 PM
Voyager Voyager is offline
Member
 
Join Date: Aug 2002
Location: Deep Space
Posts: 33,433
Quote:
Originally Posted by Kimmy_Gibbler View Post

I don't think the above undermines my point (I dare say it bolsters it) that what you need the lawyer for is tax planning and not really contracts to give gifts (which, of course, is a contradiction in terms).
I believe that donations to universities for things like buildings come with contracts. If the university promised naming rights, wouldn't you want to get that down in writing?
Reply With Quote
  #29  
Old 03-29-2012, 07:06 PM
MsRobyn MsRobyn is offline
Straight Dope Science Advisory Board
 
Join Date: Mar 2000
Location: Between the Moon and NYC
Posts: 12,148
It's not always as easy as writing a check to your nephew. A good financial planner can help you work out a plan that makes sure you can do what you want to do regardless of how things turn out in the future. A good financial planner also works with a lawyer to make sure that any plans are legally sound. A lawyer can also draft a will that takes your new-found wealth into consideration. And a good planner also works with at least one CPA to work out the tax issues and keep the books.

In addition to the obvious team of planner, CPA, and lawyer, I'd hire a publicist to manage my image. That's the only other person I'd hire.
Reply With Quote
  #30  
Old 03-29-2012, 07:32 PM
Leaper Leaper is offline
Charter Member
 
Join Date: Jul 2001
Location: In my own little world...
Posts: 8,940
Quote:
Originally Posted by hajario View Post
In some places, California being one of them, you can't collect the prize anonymously.
I've always wondered about this. How do you (when collecting anonymously) get around the requirement of signing the ticket? Or do you just have an unsigned ticket (perfect for theft!) until someone puts something down on that signature line?

And what states don't let you collect anonymously? Why are some allowed to and some aren't when they're all under the same multi-state system?
Reply With Quote
  #31  
Old 03-29-2012, 07:45 PM
Sethcrzygy86 Sethcrzygy86 is offline
BANNED
 
Join Date: Feb 2012
Posts: 41
Get an attorney to change your name to Barack Obama. Collect the money under that name. Good lucking trying to find you
Reply With Quote
  #32  
Old 03-29-2012, 07:45 PM
MsRobyn MsRobyn is offline
Straight Dope Science Advisory Board
 
Join Date: Mar 2000
Location: Between the Moon and NYC
Posts: 12,148
Quote:
Originally Posted by Kimmy_Gibbler View Post
Why would you think you need a lawyer to give money to relatives or to a religious group or charity? Do you give money to any of these groups now? Have you ever needed to document the gift in writing?
Major philanthropic gifts are generally a lot more complex than just writing out a check and dropping it on the table.

For example, let's say you want to enable your college's edifice complex and build a building to be named after you. Now, you could assume that you're going to write a check for the $50 million in construction costs and walk away, secure in the knowledge that your children and grandchildren are guaranteed spots at Outer Slobbovia State because Dad bought and paid for the new on-campus strip club. Don't be ridiculous.

First of all, you may not even be dealing with the university itself, but with its foundation. University foundations manage the philanthropic gifts on the university's behalf and exist because they can do things as a 503(c)(3) that a university can't. The foundation will negotiate the specific terms of the gift. Also, because you're not giving directly to the university, there is a natural firewall that keeps philanthropists from being able to interfere with the university's operations. In other words, you can't drop a gigantic check on the table and tell the school what to do because the check isn't written out to Outer Slobbovia State; it's written out to the Outer Slobbovia State Foundation.

These terms range from deal-breakers to the trivial. For example, the university may not allow an on-campus strip club, so that's out. The giver is free to take his money elsewhere, or the university may counter-propose, say, a science building. That's one down. Other considerations might be: What costs does the gift cover? Is the gift going to cover furnishings and equipment, or is it just for the building? Will the university be required to seek matching funds? Are naming rights included, and if so, under what terms? Does the university have the right to re-purpose the building at some point in the future, or is it to remain a science building in all perpetuity? Are there any other considerations? For example, is the gift of a science building contingent on the development of a new major or minor? All of these points, and loads more, are details that are negotiated as part of the donation process. Once everything's hunky dory and everyone is happy, the giver can write the check and drop it on the table. Until then, the negotiations are the province of lawyers. All of this, by the way, is true of other kinds of charities, as well. Any time you want to donate a lot of money, you have to do at least some negotiating.

I know this seems counterintuitive because charities need money to function. But there are legal considerations for both the charity and the giver, and that's why there are negotiations and contracts and lawyers.

Last edited by MsRobyn; 03-29-2012 at 07:46 PM..
Reply With Quote
  #33  
Old 03-29-2012, 07:50 PM
Sethcrzygy86 Sethcrzygy86 is offline
BANNED
 
Join Date: Feb 2012
Posts: 41
All but five state DE, KS, MD, ND, OH have laws requiring the lottery officials to disclose the name of the winner to anyone who asks. This would be for fraud prevention.
Reply With Quote
  #34  
Old 03-29-2012, 07:54 PM
hajario hajario is offline
Charter Member
 
Join Date: Apr 2001
Location: Santa Barbara, California
Posts: 12,752
Quote:
Originally Posted by Leaper View Post
I've always wondered about this. How do you (when collecting anonymously) get around the requirement of signing the ticket? Or do you just have an unsigned ticket (perfect for theft!) until someone puts something down on that signature line?
I think that a lawyer sets up a trust and has power of attorney to sign for the trust.

I don't think that you can be a smartass and cash your CA ticket in another state to avoid this. It's based on where you bought the ticket.

Quote:
Why are some allowed to and some aren't when they're all under the same multi-state system?
Different states have different laws. CA wants everything to be transparent and a matter of public record to avoid the appearance of malfeasance.

There are other differences too. CA law requires all prizes to be parimutuel (based on the size of the pot.) If you get five numbers but not the last one right, you get $250k in most other (or maybe all other) states. In CA that number varies. It could be more or less than that. The other parties probably decided that it was ok to allow CA to be different when they joined because of how much money they would be putting into the pool.
Reply With Quote
  #35  
Old 03-29-2012, 07:56 PM
hajario hajario is offline
Charter Member
 
Join Date: Apr 2001
Location: Santa Barbara, California
Posts: 12,752
Quote:
Originally Posted by MsRobyn View Post
All of this, by the way, is true of other kinds of charities, as well. Any time you want to donate a lot of money, you have to do at least some negotiating.
You don't have to. Anyone can give a no strings attached gift. In practice that is rarely the case though.
Reply With Quote
  #36  
Old 03-29-2012, 08:29 PM
MsRobyn MsRobyn is offline
Straight Dope Science Advisory Board
 
Join Date: Mar 2000
Location: Between the Moon and NYC
Posts: 12,148
It's one thing if I give $25 to the Human Fund; I write the check and the fund uses it for whatever they're going to use it for. It's another if I want to give a million dollars to the Human Fund. Even assuming that I'd give the money with no strings attached, we'd still have to come to some meeting of the minds to make sure that the money is legitimate, that the money is not going to be used for illicit purposes, and that my gift won't have a negative effect on the charity's operations or on its other fundraising efforts. This will probably take the five minutes it'd take to write the check, but it's still going to happen.
Reply With Quote
  #37  
Old 03-29-2012, 08:41 PM
Kimmy_Gibbler Kimmy_Gibbler is offline
Guest
 
Join Date: Mar 2009
Quote:
Originally Posted by MsRobyn View Post
It's one thing if I give $25 to the Human Fund; I write the check and the fund uses it for whatever they're going to use it for. It's another if I want to give a million dollars to the Human Fund. Even assuming that I'd give the money with no strings attached, we'd still have to come to some meeting of the minds to make sure that the money is legitimate, that the money is not going to be used for illicit purposes, and that my gift won't have a negative effect on the charity's operations or on its other fundraising efforts. This will probably take the five minutes it'd take to write the check, but it's still going to happen.
You're certainly right that ordinarily a meeting would occur. And that it would be the expectation of the development officer, at least before he or she heard otherwise, that a meeting would occur.

However if you were a well-known rich person, as the winner of a half-billion jackpot would be, and you said: "Hey, Human Fund. I want to give you a gift five million dollars. The only thing I'm gonna sign is this here check. No meetings. Take it or leave it."

They will still take your check. And they won't really be exposed to any legal liability, nor will the donor. (Although both will have reporting obligations.)
Reply With Quote
  #38  
Old 03-29-2012, 08:42 PM
Yakuza Yakuza is offline
BANNED
 
Join Date: Mar 2012
Posts: 92
They say a lawyer can help u get your money all at once but I don't know how true this is
Reply With Quote
  #39  
Old 03-29-2012, 08:44 PM
hajario hajario is offline
Charter Member
 
Join Date: Apr 2001
Location: Santa Barbara, California
Posts: 12,752
Quote:
Originally Posted by Yakuza View Post
They say a lawyer can help u get your money all at once but I don't know how true this is
What is this supposed to mean? You have a choice of an annuity or taking a lump sum all at once. No need for a lawyer for that.
Reply With Quote
  #40  
Old 03-29-2012, 08:45 PM
hajario hajario is offline
Charter Member
 
Join Date: Apr 2001
Location: Santa Barbara, California
Posts: 12,752
Quote:
Originally Posted by Kimmy_Gibbler View Post
However if you were a well-known rich person, as the winner of a half-billion jackpot would be, and you said: "Hey, Human Fund. I want to give you a gift five million dollars. The only thing I'm gonna sign is this here check. No meetings. Take it or leave it."
No doubt she will be back to re-define that as a "negotiation."
Reply With Quote
  #41  
Old 03-29-2012, 08:50 PM
kunilou kunilou is offline
Charter Member
 
Join Date: Apr 1999
Posts: 16,925
Quote:
Originally Posted by Sethcrzygy86 View Post
All but five state DE, KS, MD, ND, OH have laws requiring the lottery officials to disclose the name of the winner to anyone who asks. This would be for fraud prevention.
Yeah, but the winner doesn't have to be a human being. It can be SDMB, Inc.*

I suppose I could figure out what type of corporate structure would be the most advantageous to me and my progeny, and file the proper paperwork for me, but I can see that a lawyer would be pretty helpful.

*Not affiliated with the Straight Dope Message Board, or any parent, affiliate, assignee or successor thereof.
Reply With Quote
  #42  
Old 03-29-2012, 09:43 PM
MsRobyn MsRobyn is offline
Straight Dope Science Advisory Board
 
Join Date: Mar 2000
Location: Between the Moon and NYC
Posts: 12,148
Quote:
Originally Posted by Kimmy_Gibbler View Post
You're certainly right that ordinarily a meeting would occur. And that it would be the expectation of the development officer, at least before he or she heard otherwise, that a meeting would occur.

However if you were a well-known rich person, as the winner of a half-billion jackpot would be, and you said: "Hey, Human Fund. I want to give you a gift five million dollars. The only thing I'm gonna sign is this here check. No meetings. Take it or leave it."

They will still take your check. And they won't really be exposed to any legal liability, nor will the donor. (Although both will have reporting obligations.)
Yes and no. The Human Fund may well tell me to take a hike if they don't like where the money came from, if the sudden windfall will create problems with other donors, or if they just don't like the color of the check. The last one is a joke, but the first two aren't. Some charities have problems accepting money from what they perceive to be immoral sources, such as gambling or alcohol sales. The second comes into play when people believe that the five million or whatever means they won't have to donate. Yeah, they have the five million in hand right now, but that money is going to run out sooner or later, and if they have no donations coming in, it's going to hurt them in the long term.

Of course, my checkbook would snap shut and I'd find a charity that wanted the money.
Reply With Quote
  #43  
Old 03-30-2012, 09:20 AM
Spiderman Spiderman is offline
Guest
 
Join Date: Oct 2000
Quote:
Originally Posted by MsRobyn View Post

Of course, my checkbook would snap shut and I'd find a charity that wanted the money.
You could always donate to the SL&DF


Is there any requirement for the press conference? I live in a state that will require my name to be published but I don't want to make it any easier for the scammers & hanger's on to have my name & picture. IRL name is just common enough that I can say it's not me if they don't know what the winner looked like.






*Spidey Lunch & Dinner Fund
With a large enough donation, lunch will be in Tahiti & dinner (a few nights later) in France
Reply With Quote
  #44  
Old 03-30-2012, 10:04 AM
Moonlitherial Moonlitherial is offline
Guest
 
Join Date: Mar 2010
Here in Canada there is a requirement to both reveal your name and to allow the lottery corp to publish your picture.

One of my way out plans involved the use of theatrical makeup for the press conference and photo session. I figure I could add 30lbs, change my hair and eye colour with just makeup, contacts and some well padded clothes. Unfortunately my name is NOT common so I'm kinda screwed there.
Reply With Quote
  #45  
Old 03-30-2012, 10:55 AM
Mean Mr. Mustard Mean Mr. Mustard is offline
Guest
 
Join Date: Dec 2009
I know the first call I would make.


mmm
Reply With Quote
  #46  
Old 03-30-2012, 11:00 AM
Sethcrzygy86 Sethcrzygy86 is offline
BANNED
 
Join Date: Feb 2012
Posts: 41
Quote:
Originally Posted by Moonlitherial View Post
Here in Canada there is a requirement to both reveal your name and to allow the lottery corp to publish your picture.
What if you belong to a religion that forbids picture taking?
Reply With Quote
  #47  
Old 03-30-2012, 12:00 PM
joebuck20 joebuck20 is online now
Guest
 
Join Date: Jan 2009
Quote:
Originally Posted by Sethcrzygy86 View Post
What if you belong to a religion that forbids picture taking?
In that vein, could you show up in a Burka and claim you're a fundamentalist Muslim.
Reply With Quote
  #48  
Old 03-30-2012, 12:20 PM
Moonlitherial Moonlitherial is offline
Guest
 
Join Date: Mar 2010
Quote:
Originally Posted by Sethcrzygy86 View Post
What if you belong to a religion that forbids picture taking?
You are completely free to turn down the prize and not have your picture taken.
Reply With Quote
  #49  
Old 03-30-2012, 12:38 PM
Enderw24 Enderw24 is offline
Charter Member
 
Join Date: Sep 2000
Location: KC. MO -094 35.3 39 4.9
Posts: 10,165
I'll let you guys all know what steps I take after I win this evening.
Reply With Quote
  #50  
Old 03-30-2012, 12:58 PM
joebuck20 joebuck20 is online now
Guest
 
Join Date: Jan 2009
Quote:
Originally Posted by Enderw24 View Post
I'll let you guys all know what steps I take after I win this evening.
After getting your official 1% Membership Card of course.

Last edited by joebuck20; 03-30-2012 at 12:59 PM..
Reply With Quote
Reply

Bookmarks

Thread Tools
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 Off
HTML code is Off

Forum Jump


All times are GMT -5. The time now is 10:38 AM.


Powered by vBulletin® Version 3.8.7
Copyright ©2000 - 2014, vBulletin Solutions, Inc.

Send questions for Cecil Adams to: cecil@chicagoreader.com

Send comments about this website to: webmaster@straightdope.com

Terms of Use / Privacy Policy

Advertise on the Straight Dope!
(Your direct line to thousands of the smartest, hippest people on the planet, plus a few total dipsticks.)

Publishers - interested in subscribing to the Straight Dope?
Write to: sdsubscriptions@chicagoreader.com.

Copyright © 2013 Sun-Times Media, LLC.