WAY OT: Question about lottery winnings and CS
I have checked around online for answers to this but have come up with not a lot of conclusive answers so I thought I would throw this out there to the masses and see if anyone has an answer or can maybe provide some kind of insight. First off, here are the basics, I am a single father of a 7 year old girl that I share equal custody of with her mother, one week here and then one week there. I have never had any hesitations or reserves about providing for my child, even if she is with her mother at the time. My question is that if I were to win the lottery, current NC lottery is at $260 million, would I be obligated to share in those winnings with her mother? I would obviously set up trust funds and do everything above and beyond taking care of my daughter but should her mother benefit from this? As far as child support is concerned, there is none as the judge ruled that since there is shared custody, and i cover her insurance wise, there is no CS to be paid. Morally I would do a little to take care of her mother, as of this writing I don't totally hate her, but should she share in my good fortune? Obviously if this were to ever REALLY happen I would consult with legal counsel but I thought I would throw this out there for discussion. The closest I have found, which was based on FL laws, is that she would be entitled to interest earnings as this would count as earned income.
I would think that if it happened, you could hand $1mill over to a pretty good legal team who could work some magic.
as i've sat here and thought about it, if say for example, i won the $260 mil, taxes and penalties for lump sum would make it around $130 mil i would get. with official and legal paperwork the mother would probably get a good chunk, maybe a mil or so to take it and be done with it, but as i've seen time and again, here at least, single mothers can get away with basically anything and still look like the better person in most situations.
All i know that you need to fork some over here
You're not going to win the lottery.
The lottery is a tax on people who are bad at math.
that is a definate foregone conclusion that i will never win but the drawing is tonight and hey, i can dream can't i? that being said, IF i ever do, brian and mgoblog will be well compensated so that it may continue to beyond the days that i am senile and shit my pants on a daily basis.
I suppose the dream of winning could be worth a dollar or two. The problem is, there are too many people spending their last dollar on this dream.
oh i definately agree, sometimes i feel bad going in to the store and getting $5 worth of tickets and see the guy scraping up change to get one ticket in the hopes of changing his life. sometimes it's a good break from the reality of life to at least dream about what you would/could do with that kind of money.
It's actually fun to buy a ticket once or twice a year. Talking about all the possibilities with the wife is a dollar's worth of entertainment.
But if 3 other people also win it, he ONLY gets 16.25 Million!!! HOW WILL HE LIVE.
Are you really Latrell Sprewell?
oh there is no doubt that if i were to win even 3 million out of it that i'd be set for life, i just want to be able to keep as much as i can for myself and my daughter
should you win, DON'T lump sum it. there's a reason 78% of NFL players declare bankruptcy. and don't borrow against future years. no reason why an average person cannot live off $2 mill a year
the law isn't clear on child support issues and is case-by-case. hence why men feel constantly victimized. my guess is, should this fantasy situation occur, if you bought your daughter a house in her name and allowed her mother to live and raise her in it, you wouldn't have to deal with much. child support is solely based on the raising of the child and she would have to prove, ESPECIALLY in a situation like this, why a) more money is needed and b) how each dollar is going to the child. putting the house in your child's name with a living trust and money set aside for property taxes and basic amenities removes this. your ex would only be drawing the court into a debate of fit parentage/who the child is better with if she were to claim this was inadequate given she did nothing and the child has been provided for, etc.
coming from a law graduate
I'd give Bud Selig $230 million to start using replay and call that a perfect game...and potentially fire Jim Joyce.
but if your divorce is final and you have a settlement, nothing that happens after that should impact that settlement in terms of finances.
When you are getting a divorce, at least in California, in determining a settlement you look at dividing marital assets somewhat equally, marital assets being those that are acquired during the marriage. Once you reach a settlement, you should be done. Unless they can prove that you misrepresented the amount of marital assets or other salient information during your divorce, the settlement is final and they cannot retroactively adjust any kind of payment to her for alimony due to your subsequent success. It would seem from the custody arrangment and the lack of any support payments from you, that she was deemed equally capable to of supporting the child during her custody period, so that would not likely change either.
You do not need to share it with your ex-wife, but by law you have to share with the MGoBlog community. At least fly us out there and throw a huge tailgate.
I think a $260M lottery has positive expected value actually.