Mega Millions director says this is the first thing the winner should do

nypost.com ^ | October 22, 2018 | Lia Eustachewich

[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.”

[jjotto]

The time limit for claiming prizes varies from state to state, up to a year.

Note that in most cases, trusts are not ‘anonymous’.

[painter]

Bump

[BlueMondaySkipper]

Pooling their money to buy more tickets supposedly to increase the odds of winning, but it’s only an infinitesimal improvement of the odds.

Buying zero tickets means you have zero odds of winning
Buying one ticket increases those odds to something which gives you a chance to win.
Buying two tickets doubles those chances, as does every doubling of your ticket purchase.

The greatest increase to the odds of you winning is buying the very first ticket (from zero odds to infinitesimal odds), the second and subsequent tickets only slightly increase your odds.

[AppyPappy]

If you park $700M in Wells Fargo, there is a good chance they won’t go belly up in a few months

[AppyPappy]

Don’t leave the US. You don’t have protection

[EEGator]

I think it’s an estimate.

[x]

The winner should say that he or she lost the ticket in Guatemala.

I had to laugh.

[Paladin2]

50 BMG rounds are cheaper.....

[RegulatorCountry]

Well thank you for your elaboration but I fail to see how your version varies significantly from mine.

[Chaguito]

“Of course wife and I would be gifting the maximum annual exclusion of $11,000,000.00 to each family member.”

$15,000/year/family member. $11 million shielded when you both cork off.

[OldMissileer]

If you sign the ticket, it will be in YOUR NAME when you redeem it. That information will be published. Then you will need to keep an even lower profile, which will be impossible.

This is terrible advice.

Yes, it is terrible advice.

The first thing to do is see a good lawyer and set up some type of corporation or whatever it is called so you don't have your name on the ticket.

My wife knows a person from her work that won a very large lottery and within the first week they actually became victims of a home invasion and their whole family was kidnapped because their signed their names to the winning ticket.

[txnativegop]

No I have not been there, I just want a H & H Field Grade rifle in 465/500 Nitro.

Have no real reason to have it, I just want one! LOL

[VastRWCon]

I already have 2015 Bulls Bay 23’. With the truck I also buy a Contender. /sweet and yes fish my ass off!

[LittleBillyInfidel]

...retain an attorney, set up an LLC then a blind trust, fill out the name of the blind trust with address being your attorney’s office, and have the attorney claim the winnings on behalf of your blind trust.

That's EXACTLY what you do! Then, start buying bulks of multi unit real estate to rent out, which should be professionally managed. Create an ironclad will and revocable trust to lock and avoid the inevitable inheritance nightmare. Then, call me, LittleBillyInfidel, to take care of the rest of the wealth as a primary Trustee. :)

[Ozark Tom]

Find the right legal representation, a CPA & financial advisor, Erik Prince, and fund it all through the cash option.

Statistics showing 90% total loss of the proceeds after five years would be in favor of the annuity, except for the ability to cash in the structured payments through a bad deal at a later time.

https://www.youtube.com/watch?v=cN9OKXtzHtE

[Ozark Tom]

Counting gambling winnings as investment income?

[angcat]

Lol

[Ozark Tom]

Using a Trust Within a Trust? The first claims the prize. The first trust passes the proceeds to a second beneficiary trust.

https://www.forbes.com/sites/robertpagliarini/2016/01/12/how-to-remain-anonymous-if-you-win-the-lottery/#262e6dde3064

[time4good]

Don’t laugh, but - first thing I’d do is take a picture and then contact Snerdley or Hannity via twitter private message - tell them I just won and for them to have David Limbaugh call me. Rush said a while ago that he ONLY trusts David, his brother to handle his affairs - and I know that Rush set up a trust (RHL Trust?) years ago when he started getting the $250MM contracts. (I looked up Rush’s house one day on Palm Beach County property appraiser - fun site to gawk at the rich & famous - especially on Palm Beach). Anyway - David’s the only honest Christian lawyer I know who has experience already handling this for his rich and famous brother.

[Ozark Tom]

She signed the ticket, when all along she was allowed to hide her identity behind a trust, as allowed by New Hampshire lottery rules. Court case prevented the state from divulging her identity, based upon revealing the signature upon the ticket.