Posted on 12/28/2006 8:04:31 AM PST by commish
ASSOCIATED PRESS
Published on: 12/28/06
The man who won a $208 million Mega Millions lottery jackpot with his wife in April 2005 has died, police and a family spokesman said.
Ralph Stebbins died Saturday at his home in Arcadia Township, Michigan, near Lapeer, Sheriff's Sgt. Andy Engster told the Times Herald of Port Huron. Family spokesman Robert Kolt said he suffered a heart attack. He was 43.
Ralph and his wife, Mary, elected to take a lump-sum payment of $124.7 million, less taxes. They could have chosen to spread $208 million in payments over 26 years.
The couple used part of their winnings to buy a recreational vehicle and said they planned to buy a cow, pay off bills and build a garage to house a 1963 Corvette.
Kolt said he was not aware that Mr. Stebbins had a history of heart problems or that he was feeling ill.
"He seemed healthy and he was a very active guy," Kolt told the Detroit Free Press for a Wednesday story. "I think everybody was surprised."
Mr. Stebbins had previously worked for a well-digging company in Port Huron, where the couple formerly lived, while Mary Stebbins was a $7-per-hour retail sales clerk at a general merchandise store.
Both quit their jobs after winning the jackpot and planned to help several other family members retire.
The Stebbinses purchased their winning ticket at a supermarket in Port Huron and had been buying five easy pick Mega Millions tickets a week on a regular basis.
The couple had been married for 23 years and had three children.
A little more on this from the Port Huron Newspaper:
Stebbins and his wife, Mary, were living in Port Huron when they won the $208 million lottery jackpot.
After winning the jackpot, the couple bought a couple pieces of property and had been living in different places, Kolt said.
Prior to winning the lottery, Stebbins had numerous labor jobs in the Port Huron area, including working for a well-drilling company and operating a tow truck, Kolt said.
Stebbins, who became a grandfather in August, enjoyed working on motorcycles and other vehicles in his garage, Kolt said.
In October, Stebbins was charged in Leelanau County with attempted murder, possession of a dangerous weapon and being a habitual offender for stabbing his daughter's boyfriend, Timothy Doan, 21, with a pocket knife at an auction.
The case still was pending when Stebbins died.
Kolt said the incident was a family dispute.
He had his ticket punched.
Gotta disagree wiuth you, here, Tax-chick..MOST people would be far better off if they chose the annuity option..
Doesn't everybody want to buy that dream cow????? ;-)
1.) Hire personal trainer.
2.) Hire sous chef in charge of diet and health.
you think a measly $124M would be enough for JFn ? In HIS (widows') world, that's chump change.
Well, if I ever hit the Lotto I certainly plan to be in a position to be able to pay people to stab my daughter's boyfriend.
I just had a 33 year old, strong, and healthy nephew die of a heart attack.
55% minimum.
208 million
to 124 million (one time payout)
Income taxes (38%): 76.88 million
Estate Taxes (55%) 34.56 million
Pathetic.
Polonium 210 ??????????????????
I meant, "Smart choice in hindsight." At least for him ...
In terms of not being able to spend all of their money in one place, yes, people are better off with annuities.
But, financially speaking, a dollar in hand today is more valuable than getting that same dollar tomorrow.
"In October, Stebbins was charged in Leelanau County with attempted murder, possession of a dangerous weapon and being a habitual offender for stabbing his daughter's boyfriend, Timothy Doan, 21, with a pocket knife at an auction. "
That puts a different light on things
LOL!
Yeah, I always said I'd buy a COW if I won the lottery...
sudden illnesses - There are several substances that will cause vital organs to "spontaneously" shut down several weeks after the substance has been ingested. At that time all traces of any foreign substances will be naturally eliminated from the system through digestive tracts, but the damage will be done, and the clock will be ticking. Your mark will be very unlikely to rush to the doctor for a minor abdominal pain. In fact, once he feels the pain, he no longer needs a doctor; he needs a mortician.
see: http://hitman.us/main.html
How much the government will try taking???
Read the death tax, via Internal Revenue.
In a personal answer, all they can get their grubby hands on, as usual!!
Not financially astute people with a modicum of self-control.
(But you're right, that doesn't describe MOST people. Especially most regular lottery players,)
Wow that's young.
My condolences to you and your family.
I rarely play the lottery, but always found the "26 years of installments" to be kinda silly, esp. since with inflation, the payments 26 years from now would be a comparative pittance to what you end up with, even if you spend a bunch up front and invest the rest.
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