General Question

Yellowdog's avatar

What happens if a mentally incompetent or mentally challenged adult, who is not in charge of their money (or has a legal guardian) wins a large sum of money?

Asked by Yellowdog (6775points) 1 week ago

Anyone can buy a lottery ticket.

I know that people under 18 are ineligible to enter or win.
So what happens if an adult who is mentally incompetent, not in charge of their money, or not emancipated, or residing with some other guardian, wins big?

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6 Answers

zenvelo's avatar

A conservator handles the money, for the benefit of the individual. That is overseen by an agency or a court.

Yellowdog's avatar

Thanks for answering, How, then, would the conservator or guardian-pro-tem or whatever, be appointed?

What would the limits be on the mentally incompetent adult’s access to the money, due to their inability to make decisions about money?

SQUEEKY2's avatar

They vote him President?

Caravanfan's avatar

@Yellowdog I believe they’re usually appointed by a court.

Inspired_2write's avatar

Its placed in a Trust account and handled by responsible Guardians etc
I know of a case where this lady in a group home received an inheritance.
Her inheritance was placed in a Trust acct and managed for her to have increment amounts to live on and spend comfortably without loss of the entire amount.

Darth_Algar's avatar

@Yellowdog “What would the limits be on the mentally incompetent adult’s access to the money, due to their inability to make decisions about money?”

In many cases where an appointee handles an adult’s finances the adult in question is often given a modest weekly or monthly allowance to spend at their discretion.

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