If your office pool wins the lottery how is the prize money supposed to be managed?

Question

Should everyone sign the winning ticket or just one person?

Answer 1

If you are part of a lottery group, then you should have a WRITTEN agreement on how the money is to be paid in and paid out!

If you don't, go to your state's lottery site and check for a lottery groups page (Michigan has one) they probably will have a sample agreement for a lottery club.

As for what you need to do now, if you do not have an agreement, I would have everyone that contributed sign a copy (on letter size paper) of the ticket with an explanation that this was a lottery group, and all signers agree to split the proceeds equally. Be sure to date it!

Good luck!