Some folks set up a "trust" and the winning lottery ticket is brought in by an attorney representing the trust so that the beneficiaries are anonymous. It happened here in MI a while back. Also some financial planners recommend taking it not lump sum but via the annuitizaation, i.e. the 20 yr payment plan, that way you only get a couple of million a year and have less of a chance of screwing it all up royally. Combine the Trust and the 20 year plan and that maybe the ultimate set up. Do not go public like this young man did and that is worth millions more in it's own way.....
I wish this young man well...
Also some financial planners recommend taking it not lump sum but via the annuitizaation, i.e. the 20 yr payment plan, that way you only get a couple of million a year and have less of a chance of screwing it all up royally.
Ummmm..., these days, the way the country and the economy and the world is going -- no way! I say grab it all at once and do your best to get ready for the worst that is about to happen to the economy and this country.
You wait 20 years and you might not even survive ... LOL ...
I disagree. With the way the dollar is headed, I'd rather take the lump sum. In 20 years it'll probably be worth less than toilet paper.