How the Michigan $1Billion Mega Millions winners stayed anonymouns

Reply #6

mightwin1 — Mon, 07 Feb 2022 13:49:01 GMT

So for the lawyer to be the spokesperson, he would have to be a member of the lottery club if I read the article correctly. Which means each member would have to get a percentage, maybe 1% or less for him to cover his cost

Reply #5

KY Floyd — Tue, 01 Feb 2022 05:00:24 GMT

You've been around long enough that you have to have seen posts about lottery clubs, except that they're far more commonly referred to as pools. I'm not positive, but I think I remember reading about at least one pool where a member bought two chances instead of the one that other members bought. Whether that memory is accurate or not, a lottery ticket is a lot like other types of property and there's no reason that shared ownership requires equal shares. If the pool's rules allow it one member... [ More ]

Reply #4

Artist77 — Mon, 31 Jan 2022 19:00:34 GMT

A lottery club is not a recognized legal entity like an LLC or trust. The state allowed one person to claim on behalf of a group of people and as a member and the lottery chose not to publicly identify the rest of the club members. I am sure the lottery does know the other names and checked the names of the other winners as part of their due diligence. Although it still strikes me as odd.

Lottery Clubs are still a risky option and I doubt that you could form one after the fact. I would not re... [ More ]

Reply #3

mightwin1 — Sun, 30 Jan 2022 19:40:07 GMT

That is definitely the way to go. I wonder how much the lawyer's cut was

Reply #2

Poo Nanny — Sat, 29 Jan 2022 05:18:19 GMT

That's a interesting read. I didn't know you could also form a club and differently split the percentage paid to each person in the club. That seems to be a way around the gift tax. When I win, I plan on giving my parents and siblings some money. I guess now I know I could give each like 5% of the total winnings and not have to pay the gift tax like I would if I claimed the whole thing and then gave them some money.

Reply #1

db101 — Sat, 29 Jan 2022 04:39:15 GMT

Interesting! I wonder why they went a Florida-based lawyer.

How the Michigan $1Billion Mega Millions winners stayed anonymouns

Think — Sat, 29 Jan 2022 04:16:24 GMT

I was looking to see if there was an announcement about Michigan increasing its cash payouts and I tripped across this tidbit

https://www.mlive.com/lottery/2021/03/how-claiming-a-105b-jackpot-as-a-michigan-lottery-club-allowed-winners-to-stay-anonymous.html