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POLL: Sharing jackpot with children

Coin Toss's avatar - shape barbed.jpg

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.  

justxploring's avatar - villiarna

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 wasn't very old, one of the largest FL jackpots won in Dec 2005 was $46M by a man who gave the ticket to his daughter, a college student. He had several children, but chose her. He said she was the most practical and trusted her to distribute it evenly. The article said that her siblings weren't upset at all, but I find that difficult to believe. By the way, she took the 30 year annuity.

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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

weshar75's avatar - Lottery-042.jpg

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

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45% for myself.

45% for my ex-wife.

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

Rick G's avatar - avatar 1766.jpg

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

Litebets27's avatar - power

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

Miss Bee's avatar - strawberry

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.

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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". Group Hug

Good luck to all that play.

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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 match.  

Also, they would be involved in helping to determine which charities I would support and to what extent.

Coin Toss's avatar - shape barbed.jpg
In response to JADELottery

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 came back asking for more.  

LottoHackJack's avatar - leaf

  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 individuals who exist to assist rich people in making wise decisions before I give them another dime. I'd reserve another million in store for them eventually when they're best prepared for it...and then, after they learn what kind of spouse would go well with the scenario...heck, I'm not picking that out for them, so I wish them luck...but you can catch my drift. Winning is not making life easy...in fact, immediate destruction of principles and discipline and a greater distortion of reality has to occur first, no doubt.

  I'd give wifey half of the remaining balance and have a contest with her to see who could make it grow the fastest...I bet she'd lose...she's consumer-oriented and judges first by worldly possessions, the outward show, whereas I seek friendship and comraderie with one's inner character.

LottoHackJack

emilyg's avatar - cat anm.gif

immediately

Uff Da!'s avatar - InCelebration 001.jpg

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.

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In response to Coin Toss

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.

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