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Lottery Settlement?
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Lottery Settlement?
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Posted by Judith/NY on 12/12/13 9:57am
Msg #495884

Lottery Settlement?

Has anyone ever done a lottery settlement, which seems to be the paperwork necessary for a lottery winner to finalize their win? I got a call last night asking me to perform this service. I just wondered whether this is a typical transaction (obviously it's not something you'd expect to get many of) and whether there are any scams running that involve this type of assignment. TIA for your input.

Reply by VT_Syrup on 12/12/13 10:04am
Msg #495886

Recent news stories from TV stations around Lake Champlain have warned of scammers being falsely told they had won a lottery, and asked to send money to process their claim, or some other %$#^& excuse. It might be worth checking that no funds are being requested from the person filing the settlement, and that it is being sent to an address that can be verified as belonging to the appropriate state lottery. Of course, checking those things might be viewed as going beyond the duties of a notary. If it were Vermont, I'd send the person to a police officer, virtually all of whom are notaries in Vermont.

Reply by VT_Syrup on 12/12/13 10:06am
Msg #495887

that should be "scammers who are falsely telling marks they had won"

Reply by Judith/NY on 12/12/13 10:14am
Msg #495888

Thanks, that's why I thought I'd run it past this forum. I haven't seen the documents yet, and yes - I'm always concerned when a transaction involves the signer having to come up with money (which is why I never, ever, do debt settlements or debt consolidations). I know the service found my name here on NotRot but until I get a confirmation (haven't yet) or the documents themselves, I'm reserving judgment as to whether this is a valid transaction.

Reply by VT_Syrup on 12/12/13 10:35am
Msg #495892

If your name was found by a "service" rather than the possible winner, that would add to my skepticism. If the winnings are the least bit substantial, the winner should really be seeing a lawyer, who could give all kinds of helpful advice about minimizing taxes and estate planning, not to mention the process of claiming the winnings.

Reply by Judith/NY on 12/12/13 10:42am
Msg #495895

That makes sense, and I'll certainly follow up on whatever information I get when the documents come in. I doubt very much, however, that a lottery winner in this area would have any idea how to find a notary on a site like this. We're pretty rural and not very sophisticated (which of course increases the possibility of fraud/scam) around here, and there are very few mobile notaries in this area - like about 3 total. Most people here just go to a local bank for a notary when they need something signed. So whoever is preparing the documentation seems to be the originator of this transaction. I guess I'll see when the documents come in.

Reply by Roger_OH on 12/12/13 10:54am
Msg #495896

Just did one the other night...

Folks called in a panic at 11:30pm. They were taping the lottery show at 8am the next morning, and realized they neglected to have one of the TV release forms notarized.

I went out to their hotel at midnight and took care of it for them.

Hopefully they will remember their friendly notary if they win... Smile

Reply by Judith/NY on 12/12/13 11:17am
Msg #495897

Re: Just did one the other night...

LOL, a nice tip would be in order, I would think.

I still don't have a confirmation or any of the documents I'm supposed to get signed, and they were told yesterday that if they wanted this completed by 3PM, they needed to get them to me in time to allow for an hour's drive each way. So maybe this IS a scam. We'll see.

Reply by Anita Edwards on 12/12/13 12:27pm
Msg #495907

Re: Just did one the other night...

Please let us know.

Reply by Judith/NY on 12/12/13 3:21pm
Msg #495918

Well that turned out to be much ado about nothing. It was nothing more than an assignment of one of the lottery payments, just like a structured settlement assignment of insurance payments. No big deal. The assignor had done it before with the same agency so he was very comfortable with the process.


 
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