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Idaho Ticket Wins $220 Million Powerball
AP/Newsday ^ | 5/29/05 | n/a

Posted on 05/29/2005 1:18:30 PM PDT by kiriath_jearim

Edited on 05/29/2005 1:43:18 PM PDT by Admin Moderator. [history]

DES MOINES, Iowa -- A ticket bought in Idaho matched all five numbers and the Powerball to win the $220.3 million multistate drawing Saturday night, lottery officials said. If the winner opts for a lump sum check, it will be written for just over $125 million dollars.


(Excerpt) Read more at newsday.com ...


TOPICS: Culture/Society; News/Current Events; US: Idaho
KEYWORDS: lottery; powerball

1 posted on 05/29/2005 1:18:31 PM PDT by kiriath_jearim
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To: kiriath_jearim

Lump sum check


2 posted on 05/29/2005 1:20:18 PM PDT by apackof2 (Truth is absolute or absolutely nothing is True)
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To: kiriath_jearim

That's $400 each for everyone in Idaho.


3 posted on 05/29/2005 1:23:10 PM PDT by Liberal Bob (http://democrap.com)
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To: kiriath_jearim

I bet it was Napolean.

4 posted on 05/29/2005 1:23:12 PM PDT by xrp (Fox News Channel should rename itself the Missing Persons Network)
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To: kiriath_jearim
sign it right away, then talk to a lawyer

Wouldn't it be better to talk to a CPA? Am really curious about the answer(s).
5 posted on 05/29/2005 1:32:58 PM PDT by Beckwith (I knew Churchill, and Ward Churchill is no Churchill . . . he ain't no Indian either . . .)
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To: kiriath_jearim

And the lawyer charges what, one third?


6 posted on 05/29/2005 1:55:51 PM PDT by Waco
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To: kiriath_jearim

7 posted on 05/29/2005 1:56:52 PM PDT by Bear_in_RoseBear ("Who the hell is Hugo, and how is it he can leave 156 million dollars to his mama?")
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To: Beckwith

Yeah an estate planner who can help you set up a trust would be best.


8 posted on 05/29/2005 1:57:29 PM PDT by Minus_The_Bear
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To: kiriath_jearim
I've been meaning to visit my cousins in Iowa, uh, Idaho. Now would be a good time.
9 posted on 05/29/2005 2:08:55 PM PDT by SmithL (Proud Submariner)
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To: JBlain

Cash up fron cuts it in about half....then pay your income tax
and you end up with roughly 35% of the 220 million..


10 posted on 05/29/2005 2:10:59 PM PDT by nodakkid
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To: Beckwith

I would first talk to a lawyer, a financial planner & a security company (lots of nut jobs out there!) Not that I've thought it all out or anything....sigh.....


11 posted on 05/29/2005 2:24:56 PM PDT by CO Gal (Liberals should be seen, but not heard..)
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To: kiriath_jearim

I was going to keep this quiet until I actually cashed in the ticket. But since someone posted it to FR already, where do I make a donation to FR.


12 posted on 05/29/2005 2:26:26 PM PDT by BJungNan
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To: JBlain
Yeah an estate planner who can help you set up a trust would be best.

With $220 million, even after taxes, I need to worry about an estate planner. Just get that cash in my bank account.

13 posted on 05/29/2005 2:28:12 PM PDT by BJungNan
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To: nodakkid
Cash up fron cuts it in about half....then pay your income tax and you end up with roughly 35% of the 220 million..

$77 million would be tough to live on.

14 posted on 05/29/2005 2:29:53 PM PDT by BJungNan
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To: xrp

LUCKY!


15 posted on 05/29/2005 2:29:56 PM PDT by rabidralph
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To: BJungNan

220 Million? Hell, I'll marry the guy!

16 posted on 05/29/2005 2:54:42 PM PDT by billorites (freepo ergo sum)
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To: kiriath_jearim

For the SAFETY AND SECURITY OF YOU & YOUR FAMILY.....
1. Set up a Trust or Foundation. (DO NOT tell the lawyer what its for.)
2. Sign the ticket on behalf of the Trust)
3. Have charities and family members buy an interest in the Trust. (20% for charity X, 10% for each family member, etc.)
4. THEN have the lawyer present the ticket on behalf of the Trust. (He's already been paid a FLAT FEE)
5. The lottery pays the Trust, the interest allocations in the Trust have been established.
Taxes are determined by the distributions from the Trust.


17 posted on 05/29/2005 3:08:29 PM PDT by G Larry (Promote Conservative Judges NOW! YOU BUNCH OF COWARDS!!!)
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To: G Larry

With this much money would you take the lump sum or the annuities?


18 posted on 05/29/2005 4:29:02 PM PDT by rave123
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To: xrp
Flippin Sweet!!

Image hosted by TinyPic.com

19 posted on 05/29/2005 7:19:49 PM PDT by Dick Vomer (liberals suck......... but it depends on what your definition of the word "suck" is.)
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To: kiriath_jearim

Powerball is for suckers. Lottery players should play the low-odds games. I'd be happy to win a small jackpot of $100,000 or something, though I don't play that much to begin with.


20 posted on 05/29/2005 9:45:08 PM PDT by Extremely Extreme Extremist (Harmful Or Fatal If Swallowed)
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To: G Larry

What about signing the ticket over to a lawyer or something to avoid publicity? Would that work?


21 posted on 05/29/2005 9:46:40 PM PDT by Extremely Extreme Extremist (Harmful Or Fatal If Swallowed)
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To: Extremely Extreme Extremist

I was at an Indian Casino on Thursday and the women sitting next to me won $69,000!!! It was very exciting!


22 posted on 05/29/2005 9:48:03 PM PDT by Hildy ( The reason a dog has so many friends is that he wags his tail instead of his tongue)
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To: Hildy

LOL! That happened to me too. Wife and I were playing the slots one night and the person next to me won like $25,000 or something.


23 posted on 05/29/2005 9:49:00 PM PDT by Extremely Extreme Extremist (Harmful Or Fatal If Swallowed)
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To: kiriath_jearim

Who cares,This life is all about me!


24 posted on 05/29/2005 10:02:36 PM PDT by Boazo (From the mind of BOAZO)
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To: G Larry

Ridiculous that anyone should have to go through such nonsense...


25 posted on 05/29/2005 10:12:58 PM PDT by THX 1138
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To: kiriath_jearim

Take it over 20 years that way you can not blow it all in Vegas, one way or another.


26 posted on 05/29/2005 10:16:44 PM PDT by Brimack34 (God Bless those who live and die to protect us.)
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To: rave123

Lump sum.
You should be able to invest and exceed annuity rates of return.
Also, you would be in a position to more immediately assist charities and family, using the method I described.


27 posted on 05/30/2005 10:04:57 AM PDT by G Larry (Promote Conservative Judges NOW! YOU BUNCH OF COWARDS!!!)
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To: Extremely Extreme Extremist

NOOOOOOOOO!!!!!!!!!
You create the Trust or Foundation to avoid the publicity.
The lawyer then represents the entity to transfer the winnings to it.

If you sign it over to the lawyer what would keep him from walking away with it, or a MUCH larger share of it than you intend.
FLAT FEE for the lawyer!!
None of this percentage crap!
Screw their "policies".
Write a specific contract, NOT using ANY "standard forms"!
The "standard forms" are designed to place you at a disadvantage, NOT to protect you.


28 posted on 05/30/2005 10:10:35 AM PDT by G Larry (Promote Conservative Judges NOW! YOU BUNCH OF COWARDS!!!)
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To: BJungNan

Yeah, just like the genius who won $41M and drank up all of the publicity.
He had over FIVE THOUSAND requests each year from all of these bleeding heart cases.

If you want to be SAFE and be able to enjoy some privacy, use a Trust or Foundation!


29 posted on 05/30/2005 10:13:38 AM PDT by G Larry (Promote Conservative Judges NOW! YOU BUNCH OF COWARDS!!!)
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To: THX 1138

yeah...take a look at those who go public.

They get sued and harrased from every corner.


30 posted on 05/30/2005 10:15:47 AM PDT by G Larry (Promote Conservative Judges NOW! YOU BUNCH OF COWARDS!!!)
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