If you won the lottery for a total sum between $5M and $30M (total of payments)...

[usmbguest5318]

...would you give the ticket to your adult kids or would you claim the winnings yourself?

This is not a question about whether you'd opt for the lump sum payout or take annuity -- that is irrelevant to the question. It's about whether you'd claim the winnings or let your kids do so.

 

[Asclepias]

I'd claim the winnings myself. Why would I give it to my kids?

 

[Montrovant]

Not having kids makes it a simple decision for me.

 

[JoeMoma]

I think the first reaction for most would be to keep it themselves. Does your question have anything to do with the estate (death) tax?

 

[Asclepias]

I think the first reaction for most would be to keep it themselves. Does your question have anything to do with the estate (death) tax?

A trust circumvents all that estate tax BS.

 

[bodecea]

...would you give the ticket to your adult kids or would you claim the winnings yourself?

This is not a question about whether you'd opt for the lump sum payout or take annuity -- that is irrelevant to the question. It's about whether you'd claim the winnings or let your kids do so.

Myself tho I would pay off all our daughter's schooling AND all my nieces and nephews and my brother and sister's mortgages. That's a given.

 

[JoeMoma]

I think the first reaction for most would be to keep it themselves. Does your question have anything to do with the estate (death) tax?

A trust circumvents all that estate tax BS.

So as you asked earlier, why give it directly to the kids?

 

[JoeMoma]

Now if the question were based on winning a lottery that paid an amount each month (or year) for the life of the winner, I could understand giving the lottery ticket to the kids (or a kid) to claim. Giving the ticket to the kids would be a way of maximizing the winnings for the family.

 

[shockedcanadian]

...would you give the ticket to your adult kids or would you claim the winnings yourself?

This is not a question about whether you'd opt for the lump sum payout or take annuity -- that is irrelevant to the question. It's about whether you'd claim the winnings or let your kids do so.

If you have $30M and need another son, you can adopt me. In such a case, I would opt for a lump sum...

 

[SeaGal]

...would you give the ticket to your adult kids or would you claim the winnings yourself?

I would claim the winnings myself. And you?

 

[Auld Phart]

If I won, I'd set it up so that the wife and the kids would share equally with me.

Me, one share
Wife, one share,
each child, one share
grandkids, depend on mommy and daddy for their share

 

[usmbguest5318]

...would you give the ticket to your adult kids or would you claim the winnings yourself?

I would claim the winnings myself. And you?

Twenty years ago, I'd have claimed the winnings. Now that I'm nearly 60, I'd give the ticket to my kids.

 

[CrusaderFrank]

...would you give the ticket to your adult kids or would you claim the winnings yourself?

This is not a question about whether you'd opt for the lump sum payout or take annuity -- that is irrelevant to the question. It's about whether you'd claim the winnings or let your kids do so.

I'd give it to my sex robot

 

[usmbguest5318]

I think the first reaction for most would be to keep it themselves. Does your question have anything to do with the estate (death) tax?

No. It has only to do with what one would opt to do. If in thinking about how to answer the question, one feels obliged to consider estate taxes or other factors, by all means, one can/should...take all that and more into consideration and after having done so, answer the question: claim the winnings oneself or let one's kids have them. All I want is the answer; I don't want the considerations, but if folks share them, that's on them.

 

[The Irish Ram]

I think I would cash it in. That much money thrust on a child may tend to corrupt the child even though the child may be an adult. And could cause them physical harm if they had jewelry or a nice car to be hijacked.
My girls are financially stable, so I would gift some to them or pay for vacations and fun stuff. And I would get my youth group kids things that they need. Homes, transportation, money to go to school or start businesses.

 

[SeaGal]

...would you give the ticket to your adult kids or would you claim the winnings yourself?

I would claim the winnings myself. And you?

Twenty years ago, I'd have claimed the winnings. Now that I'm nearly 60, I'd give the ticket to my kids.

On the assumption that lump sum is an option (this is where pay out options matter), though I would take care of my children first, there are other people and organizations I would be concerned with. If lump sum is not an option, then I would let them claim it for me, with stipulations.

 

[The Irish Ram]

...would you give the ticket to your adult kids or would you claim the winnings yourself?

This is not a question about whether you'd opt for the lump sum payout or take annuity -- that is irrelevant to the question. It's about whether you'd claim the winnings or let your kids do so.

I'd give it to my sex robot

lol. What if she used it to buy a brain?

 

[usmbguest5318]

...would you give the ticket to your adult kids or would you claim the winnings yourself?

I would claim the winnings myself. And you?

Twenty years ago, I'd have claimed the winnings. Now that I'm nearly 60, I'd give the ticket to my kids.

On the assumption that lump sum is an option (this is where pay out options matter), though I would take care of my children first, there are other people and organizations I would be concerned with. If lump sum is not an option, then I would let them claim it for me, with stipulations.

The OP makes clear how the money is paid out or which you'd prefer isn't at issue. It's really a simple question, and you already answered it satisfactorily. I appreciate your having done so. TY.

I would claim the winnings myself.

 

[SeaGal]

The OP makes clear how the money is paid out or which you'd prefer isn't at issue. It's really a simple question, and you already answered it satisfactorily. I appreciate your having done so. TY.

Actually, it merely says 'This is not a question about whether you'd opt for the lump sum payout or take annuity -- that is irrelevant to the question'...except it is not irrelevant to the answer. Age matters, as you yourself pointed out. That said, my answer remains the same.

Anyway, happy to hear that I answered your question satisfactorily. "I-aim-to-please' is mah middle name.

 

[MarathonMike]

...would you give the ticket to your adult kids or would you claim the winnings yourself?

I would claim the winnings myself. And you?

Twenty years ago, I'd have claimed the winnings. Now that I'm nearly 60, I'd give the ticket to my kids.

I am the same age as you and financially secure but I wouldn't give it to my sons. I believe significant inheritance (1 million or more) screws up the inheritor particularly if they are young. It robs them of the opportunity of making their own way and knowing how hard it is to make money, save it and grow it themselves. We have willed our estate mostly to our sons, but hopefully that won't take effect for a long time.