Because of taxes, would it be smart to get married and THEN claim the ticket or vice versa?
2006-11-16 18:12:49 · 17 answers · asked by Brooke 2 in Games & Recreation ➔ Gambling
I guess this question is more for the adults... I've been with my "live-in boyfriend" for 5 1/2 years. We will get married eventually. But because of TAXES, what's the smartest thing to do first? Either way, the winnings will be split. So should we get taxed before or after marriage?
2006-11-17 05:00:15 · update #1
yeah i guess you should ... but also not just to anyone
2006-11-16 18:20:28 · answer #1 · answered by mari 6 · 1⤊ 0⤋
If you get married first then claim the ticket, in some states the ticket also belongs to your spouse. If you claim the prize first then you bring the money to the marriage and it's always yours. Taxes may be the least of your worries.
2006-11-16 18:17:43 · answer #2 · answered by Joanne B 3 · 0⤊ 0⤋
Seriously, if this is all you have to worry about, you must have a nice life.
In the unlikely event that you win the lottery, talk to a lawyer, claim the ticket, get a pre-nup, then get married. In the event that your marriage falls apart your spouse will not be entitled to a penny.
But in reality you are more likely to be killed by a drunk driver on your way to buy the ticket, than you are likely to win. So I really wouldn't worry too much about it.
2006-11-16 18:32:14 · answer #3 · answered by ZCT 7 · 0⤊ 0⤋
Get a prenuptial agreement. Don't allow him to marry you for the money. And watch out about life insurance policies taken out on you by him. Be careful about the inheritance in the will too. Make sure the upper hand goes to a parent or someone you would trust with your whole life more than a spouse. Also, talk to a lawyer that you can trust, if you ever find yourself in that situation.
2006-11-16 18:22:02 · answer #4 · answered by C L 2 · 0⤊ 0⤋
Well if you want your spouse to share the money with you, then get married, but think about what could happen in the future if you marry them and then they want a divorce they could go after you for it, I guess it depends on your judgment call, chances are for tax reasons you will get off lighter if you are not married
2006-11-16 18:48:05 · answer #5 · answered by Marjorie 1 · 0⤊ 0⤋
Do u mean if u dun strike, u dun get marry? If u think he's the 1, there's no reason to wait ya.... Good things might get snatch easily...
2006-11-16 18:21:02 · answer #6 · answered by kudos Qi 3 · 0⤊ 0⤋
No, because then the person you marry is legally entitled to HALF, then it won't matter about taxes - I'd stay single and go that route.
2006-11-16 18:17:21 · answer #7 · answered by belleebuttons 3 · 1⤊ 1⤋
Iit would be smart to make sure you set your alarm so you don't over sleep while so intent on your vivid dreams of millions and new houses and caviear (sp)
2006-11-16 18:19:10 · answer #8 · answered by rache001 3 · 1⤊ 0⤋
no no no no first claim the ticket then the money will be all yours and not yours and his make sure you put your money into a money market account atleast the bulk of it or even better an ira ( they earn more interest) then get married
2006-11-16 18:18:26 · answer #9 · answered by koolnsweett 3 · 1⤊ 1⤋
Well yeah, except I'm not available anymore. (He might be more taxing than the state.)
2006-11-16 18:19:48 · answer #10 · answered by Anonymous · 0⤊ 0⤋
I say if you have been with a person for a long time and you love them then why not you can aford it then.
2006-11-16 18:19:57 · answer #11 · answered by Dedra 1 · 0⤊ 0⤋