Posted on 10/23/2018 11:49:00 AM PDT by lowbridge
The head of the Mega Millions on Monday revealed the very first thing the potential winner of the game’s historic $1.6 billion jackpot should do: Sign the ticket and keep a low profile.
The simple yet sage advice came from Gordon Medenica, the game’s lead director and director of the Maryland lottery.
“Sign the ticket! Because keep in mind that little slip of paper is a billion-dollar bill — imagine that,” he said on NBC’s “Today.” “So you want to secure it and also be calm. Don’t be running to the ‘Today’ show the next day.”
Medenica also advised, “Get some good advice, get a good financial adviser, good lawyer, tax accountant, all that. Get your affairs in order. You’ve got between six months and 12 months to come and claim the ticket.”
(Excerpt) Read more at nypost.com ...
If you win, the first thing you do is tell NOBODY
Find a damn good lawyer,
and establish a wall between yourself and the world
Find a damn good investment person,
pay them what they are worth
Sell your house, pull up stakes
THEN announce to the world what happened
In the process say clearly that anyone who asks for money will be FOREVER removed from your list of benefactors
ANY ONE who comes to you with investment advice
will be ignored, permanently.
Then disappear for a while, your choice
Help who you choose
Benefit those you choose
Anyone who complains is banned forever.
It seems harsh, but it is to protect those closest to you
Maybe. Things are so bad in Chicongo and Illinoise that they’re behind paying off lottery ticket winners. California couldn’t even pay income tax returns. You never know what level of shenanigans the government or its agencies will come up with.
I don’t know a lawyer or accountant I can trust not to steal it. Based on that signing the ticket is my only option.
“Dad? I’ve been kidnapped and they told me that they would kill me if you didn’t deposit $10 million into a separate bank account.”
“Son? Sorry, but you know the rules. Goodbye son.”
*click
Listened to an interview a year or so ago of a big lottery winner ($200 million range), he hired very good lawyer, public relations person, CPA, financial adviser and ex banker(not the same role as CPA or financial adviser he just kept track of money and moved it as needed). Still had same team and all the money after 6 or so years. PR person handled all requests for donations, charities and investments this kept nut cases and scammers away.
Then after you form a trust you can write in the name of the trust in larger letters in the space for your signature.
State laws may differ, though, as to how you can get your winnings.
Right.
‘Financial advisors’ want you to set up a trust with their name on the face of it. How much would they charge? Ten percent of the $500 million cash?
Get real! The winner isn’t going to remain truly anonymous and isn’t going to dodge initial taxes. Adjust life accordingly.
You would have to use a few accountants and lawyers to diversify your risks. Same with investment firms. Using just one firm could cost you one day thirty or forty million dollars because of a singular bad decision they made.
Yep. I would find a private tropical beach with all the amenities and lay low for a long time while doling out gifts to my kids and close friends and a couple charity organizations I trust.
Disappear. Go deep underground, witness protection style. Change your identity. Make all paper and electronic trails evaporate.
I have never won anything in my life.
“If someone tells you the number before 10 pm eastern, let me know and I’ll split the winnings with you.”
Hold it, now — I was at the head of this parade so the split is 3-ways.
Yep ,that’ll put you in a higher tax bracket ,LOL
Same here, but that will change tonight. Actually I’m just bumping the thread so I can read it more carefully tomorrow.
Fair enough.
Just cash in the ticket. If anyone asks you for money, say “No”.
Take the lump sum and park it for a while. Don’t make financial decisions immediately.
We Americans are so very nice.
...“Son? Sorry, but you know the rules. Goodbye son.”
Good thing my wife and I have no children
I never understood pools? Its $2 a ticket. Why split that?
Rather than sign the ticket, simply take a photo of the ticket with your ID and keep it as back-up in case there’s a question or challenge as to whether or not you’re the rightful owner.
Then create a trust and have the trust claim the ticket.
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