POLL: Sharing jackpot with children

Reply #25

BaristaExpress — Thu, 18 Jan 2007 13:37:01 GMT

I voted Progressively. I would be doing a trust for my 19 yr old daughter and one for my 4 yr old son. My daughter would receive a monthly check from the interest on the trust, without ever knowing the beginning balance. On her 25th birthday she would receive 1/3 of the beginning balance of the trust! On her 35th birthday she would receive the remaining 2/3 of the balance. My son would start getting interest checks on his 18th birthday from his trust. Man what a build up of interest on his trust... [ More ]

Reply #24

BobP — Thu, 18 Jan 2007 06:38:00 GMT

I don't believe the winning and losing of money by gambling should be discussed in front of young children. I have memories of my father fanning hundred dollar bills in front of my mother after winning a tri-fecta without mention of what he'd lost in the past to win it. We kids were happy and excited wondering what it meant for us, well we got nothing, but a sense you could win big money gambling.

Adult children, be prepared to share responsibly over time or lose their attention. Their s... [ More ]

Reply #23

DoubleDown — Thu, 18 Jan 2007 01:48:25 GMT

Thanks for the poll, CT...My vote was Progressively.

I would start with the maximum amount that can be given tax free, then go from there.

I have a stepson and a daughter that are fully grown, responsible , and practical .

After the initial cash payment, I would find out what their current debt load is and pay it off systematically.

I love them dearly and would want them to enjoy it as much as me and their mom would.

DD

Reply #22

psykomo — Tue, 16 Jan 2007 08:49:51 GMT

COINTOSS..............ye$$$$$$...........Coin Toss!!!!!!!!!!!!!!!!!!!!!!!!!

THANK$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$

for...........................YOUR.................................POLLLLLLLLLLLLLLL

IFF>>>>>>>>>>>>I.............HADDDDDDDDDDsummmmmmmmmm

VOTeeeeeeeeeeeee..............IMEDIATE............Lyyyyyyyyyyyyyyyyy

BUT.........................................most???????????FLELIONS.......don't

KNOW WHAT CHILDREN..........ARE... [ More ]

Reply #21

ryanm — Sat, 13 Jan 2007 16:47:45 GMT

Well, I plan to never have kids, so this won't be an issue

Reply #20

Coin Toss — Fri, 12 Jan 2007 05:55:42 GMT

Glad to hear she's back!

I'm dying for someone from the Illinois lottery to Google Linda Kollmeyer, or just stumble into one of your posts

Reply #19

Rick G — Fri, 12 Jan 2007 01:36:44 GMT

Coin Toss,

She inexplicably disappeared the other day. But I got her to come back home. (Notice I gave the photog due credit for the pic....thought it might be an issue for a spat and just won't have any ecxuses.

Reply #18

mylollipop — Fri, 12 Jan 2007 01:12:20 GMT

Way to go

Reply #17

Coin Toss — Fri, 12 Jan 2007 01:06:21 GMT

And where is she, Rick? What happened to your sig?

Does she know about this? Did you two have a spat

Reply #16

Rick G — Thu, 11 Jan 2007 23:09:45 GMT

CARBOB, I've given her my love. What more could she ask for?

Hope the New Year is treating you well too.

Reply #15

CARBOB — Thu, 11 Jan 2007 22:38:26 GMT

I voted for Linda Kollmeyer because RickG. didn't give her anything. Happy New Year Rick.

Reply #14

JADELottery — Thu, 11 Jan 2007 21:42:42 GMT

She's the Mother of my Children, plus, to have to put up with my B.S., she deserves it. Any one that can handle me for that length of time needs compensation for their time. Besides, it's my fault we are divorced, not her's. We are still good friends and are better friends now than when we were married.

Reply #13

Uff Da! — Thu, 11 Jan 2007 20:55:09 GMT

I have no children of my own. My stepchildren are in their 50s and 60s and in much worse health than I am, so with a large win, I'd give them some immediately to make sure they'd have time to enjoy it. I'd also give some immediately to my five siblings, as they range in age up to the 80s. But I wouldn't give anyone enough to live extravagently, just nicely. I'd prefer to give excess amounts to charities, some immediately, some in my will.

Reply #12

emilyg — Thu, 11 Jan 2007 18:07:00 GMT

immediately

Reply #11

LottoHackJack — Thu, 11 Jan 2007 17:18:44 GMT

Progressive is the only answer for me...The kids are F27, M26, F25, and F17...and not married. Three were on their own and two are back...The 17-yr-old girl starts university next fall.

I'd give them 150 grand each to prove to themselves how irresponsible and economy ignorant they can be, and after watching them blow it, I would insist on them taking classes and seeking professional investment guidance and help with the right kind of firms, lawyers, accountants and other wealthy individual... [ More ]

Reply #10

Coin Toss — Thu, 11 Jan 2007 15:59:47 GMT

JADELottery

45% to the ex, you must be part angel.

As for divvying up a jackpot, I don't think people have their heads on straight financially until they're in their forty's or so (for some, never).

I can see someone in their 20's or 30's coming into a huge pile of cash and blowing it all on dream cars or something.

I remember on one of the lottery documentarires one of the winners said that he had given family member and some friends $1,000,000 each - and every single one of them c... [ More ]

Reply #9

CA LotteryGuy — Thu, 11 Jan 2007 15:44:15 GMT

I voted Progressively also. I have two boys, one in college and one in high school. I would pay for college and get them a late model used car. They would get some spending money for school, but would be required to work a summer job.

As they got older more items; house, new car, etc., would come their way based upon how they reacted to the money they got in the past. They would have to have a career of some sort. Maybe I would supplement their salary, i.e. whatever they earn I would... [ More ]

Reply #8

IMGONNAWIN — Thu, 11 Jan 2007 15:25:14 GMT

Well I voted PROGRESSIVLY. I do not have children, but I do know that I would help out my parents, two sisters, 3 nieces, and 2 nephews. Each and everyone of them have helped me out and I believe in What comes around, goes around .

Good luck to all that play.

Reply #7

Miss Bee — Thu, 11 Jan 2007 15:08:34 GMT

I would set up some kind of trust fund for my boys, that way I would know that they would never have to worryabout money. I am sure up front I would give them a nice chunk to just blow and have fun, but their future is way to important, and if you are young you think a couple of million dollars will last forever but we all know thats not the case.

Reply #6

Litebets27 — Thu, 11 Jan 2007 14:56:52 GMT

Very interesting question. It's one that I have often pondered. My daughter is grown and on her own, but is very materialistic. I know that she is one who would go through any money that she would receive like a wild fire.

I voted immediately, but in increments would have been better, come to think of it.

Thanks for the Poll.

litebets

Reply #5

Rick G — Thu, 11 Jan 2007 14:51:27 GMT

I have two young adult sons and would share a jackpot equally with them immediately.

Reply #4

JADELottery — Thu, 11 Jan 2007 14:45:23 GMT

45% for myself.

45% for my ex-wife.

10% for my two boys split equally, after they go to college.

Reply #3

weshar75 — Thu, 11 Jan 2007 14:38:50 GMT

I do not have children so the Powerball jackpot I win on Saturday night will go to myself and my brother's wife who buys a fractional share of my ticket each drawing. So two people and no kids.-weshar75

Reply #2

StanOH — Thu, 11 Jan 2007 12:03:48 GMT

I voted for Immediately for my children are out of college and are responsible adult. If I won big I would defiantly give them money,how much does a person need. They are 25 and 23 and if I could make there life easier for them I am all for that.Isn't that what parents are supposed to do help there children? StanOH

Reply #1

justxploring — Thu, 11 Jan 2007 10:58:32 GMT

other - I don't have any children! I hope a parent would want to share the wealth, at least the $12,000/yr per person tax exempt gift. I think it would all depend on the prize won. I don't think parents have an obligation to automatically support their grown children, but if you love people I would hope you'd want to help make their lives a little more comfortable.

If someone in his 80s or 90s won, it would be nice if he trusted his children enough to let them claim the prize. Although he... [ More ]

POLL: Sharing jackpot with children

Coin Toss — Thu, 11 Jan 2007 07:30:05 GMT

The Missouri lottery put this poll in the e-mail they send out, I just thought it would be an intersting one to post here. (I added a few choices)

Enjoy.