Simple question right?
Well it depends how the ticket was bought. And on a couple of other things too.
But let’s dig in and figure out if (or how) you need to split your lottery winnings.
Gifted Scratchcard Wins: Should I Share My Winnings?
This is a really interesting one. If someone gives you a lottery ticket as a gift – and it wins – are you under any obligation to share some of the winnings with them?
Everybody seems to have a strong opinion on this. But both ways!
And this very situation was just posted by MoneySavingExpert as a Money Moral Dilemma:-
It seems really clear cut to me. The scratch ticket was a gift. And you just don’t give gifts with any kind of obligation to share that gift with you – no matter what the gift is.
Unless, you made it clear from the beginning that the gift was to ‘both of you’, i.e. a shared gift to us, as people sometimes do at Christmas.
If he wants to share some of it, then that’s entirely up to him and his own generosity. So to not only expect but even ask for something back seems a bit greedy to me?
But not everyone agrees with me.
Some people think he should be using the money to buy something ‘for them’. While another even said he should give her half and walk away, as that was a cheap price to know someones true nature! 😯
What do you think on this one? Click here to add your comment below.
Do You Have To Split Lottery Winnings With Your Spouse?
This one gets difficult (not a lawyer or giving legal advice in any way!). But unless you’re getting divorced it’s more a moral dilemma than anything else.
Maybe your marriage vows said you’d “share all things”. Or maybe you signed a prenuptial agreement!
But it’s really up to you and how you’ve arranged your financial affairs in the past. Do you share everything or have separate bank accounts and just some ‘bills in common’?
Yes, it would be pretty mean to bank a jackpot, and then not let your spouse share in any of that good fortune. But the question was do you ‘have’ to…
Of course if you’re divorcing then that’s a whole other kettle of legal fish, and one for the expensive lawyers to sort out for sure. People do try to hide lottery winnings from their partners, but really, is it worth it? Is that the kind of person you want to be? Maybe it’s just better to be fair all round and move on. 🙂
How Do You Split Lottery Winnings?
If you bought the ticket and there was no group involved or agreement with anyone else, then it’s up to you. Split it however you feel is appropriate.
People get weird with money, and that’s something you’ll have to deal with if you win big.
But ultimately it’s your money so you do what you think is right. Not what highly opinionated or greedy distant relatives think you should do.
If however it’s a syndicate group or pool, then the split should be done according to the rules you set when you started. Which hopefully should be clearly written down in an agreement you all signed from the beginning.
Can you split lottery winnings unevenly? Yes, if that’s what you agreed between your group.
Or if it’s your sole win, then again, you can do what you want – and if that means an uneven share between family members then that’s your choice, and most definitely not their choice. If they don’t like the split then they don’t have to be involved at all.
Any other questions or comments on splitting lottery winnings, just add a comment below.
Disclaimer: again, none of this is legal advice. I’m not a lawyer, never have been and never will be. So consult with a proper legal expert if you find yourself in a situation that goes beyond just being a moral dilemma.