Anonymous wrote:

Anonymous wrote:Wow. She came forward to the TV? Bad move, real bad move. I know a person who won, I believe 8 million (after tax), went hiding. I mean, changed the mailing address to PO box, went to accountant/attorney before collecting the check, etc. With that scale of money this time around, I'd be seriously scared of my life though.

My brother worked for a major newspaper and wrote a story for the paper after winning a similar amount. Half goes to taxes and he took the winnings over 20 years.

I hope your brother is a more skilled writer than you are . . .

Anonymous wrote:

Anonymous wrote:What does hiring a lawyer do?

Explain tax implications and legalities if you don't comply?

25% withholding is imposed. If you fail to pay the remainder, you go to jail. They have a good idea how much money you made since they were trying to win it too.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I remember to recall a winner of D.C. lottery hired an attorney to collect the check and the winner was able to remain anonymous (I believe if you really want to know the names, you need to write a letter to the lottery and request a name?)

That's what I would do. I would hire someone to be the 'face" of the winner for me. And I would have a business created and all the money would go there, and I'd just be president, vp, treasurer and secretary of it.

I would also keep my job until I figured out health insurance. And honestly, I would consider keeping my job for a year, to see how things changed before I changed my lifestyle dramatically. I wouldn't be rushing right out to be a mansion and SUV.

You don't need health insurance with that kind of money. You're self-insured.

Yes. You do. Or you pay the tax. Remember Obamacare?

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I remember to recall a winner of D.C. lottery hired an attorney to collect the check and the winner was able to remain anonymous (I believe if you really want to know the names, you need to write a letter to the lottery and request a name?)

That's what I would do. I would hire someone to be the 'face" of the winner for me. And I would have a business created and all the money would go there, and I'd just be president, vp, treasurer and secretary of it.

I would also keep my job until I figured out health insurance. And honestly, I would consider keeping my job for a year, to see how things changed before I changed my lifestyle dramatically. I wouldn't be rushing right out to be a mansion and SUV.

You don't need health insurance with that kind of money. You're self-insured.

You don't need to invest in anything either with that kind of money.

Anonymous wrote:What does hiring a lawyer do?

Explain tax implications and legalities if you don't comply?

Anonymous wrote:Wow. She came forward to the TV? Bad move, real bad move. I know a person who won, I believe 8 million (after tax), went hiding. I mean, changed the mailing address to PO box, went to accountant/attorney before collecting the check, etc. With that scale of money this time around, I'd be seriously scared of my life though.

My brother worked for a major newspaper and wrote a story for the paper after winning a similar amount. Half goes to taxes and he took the winnings over 20 years.

Anonymous wrote:

Anonymous wrote:I remember to recall a winner of D.C. lottery hired an attorney to collect the check and the winner was able to remain anonymous (I believe if you really want to know the names, you need to write a letter to the lottery and request a name?)

That's what I would do. I would hire someone to be the 'face" of the winner for me. And I would have a business created and all the money would go there, and I'd just be president, vp, treasurer and secretary of it.

I would also keep my job until I figured out health insurance. And honestly, I would consider keeping my job for a year, to see how things changed before I changed my lifestyle dramatically. I wouldn't be rushing right out to be a mansion and SUV.

You don't need health insurance with that kind of money. You're self-insured.

*either worsen or improve

I hear how after the novelty wears off, then lotto winners typically think their lives neither worsen or improve.

I think mine would definitely improve.... Against any and all odds.

I could live in a quiet, safe peaceful neighborhood.
I wouldn't have to ever stress about cleaning up my own house.

A car broken down wouldn't put me out for a few months.
I could see a dentist after not seeing one for over two decades.

I could afford to travel to all the fabulous places I read about in my library books!

Life would definitely get better.
Maybe even perfect dare I say??!

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:She looks like a nice, down-to-earth, woman snd I wish her well.

Same here. Congratulations to her.

Her statement about already quitting her job (and the huge grin on her face when she said it) was awesome. I hope she enjoys her new fortune.

+1

Such haters here! Why am I not surprised? No wonder some people try to play down their wealth here. Wow.

I am just glad someone from India did not win.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:What does hiring a lawyer do?

Oh, I don't know, maybe guide the winner through financial/legal estate planning options? Educate them on family foundations, family offices, trusts, partnerships, the best strategies for purchasing homes.

People with wealth in the 100mm+ range rely on professionals to structure their assets. If they don't they will likely waste a lot of money making really bad decisions.

Again, what does hiring a lawyer do? You described financial planning.

NP. I guess I would call my financial planner and explain the situation. Then I would ask if he had an estate atty that he used or recommended. Then I would ask for a sit down with the 3 of us to come up with a plan.

Before or after collecting the prize?

Before

better keep a close eye on the ticket while doing all this.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I remember to recall a winner of D.C. lottery hired an attorney to collect the check and the winner was able to remain anonymous (I believe if you really want to know the names, you need to write a letter to the lottery and request a name?)

I don't think that's true, or that's what all the winners would do. It depends on where you BUY the ticket - not where you live. So they may have purchased the ticket in Maryland, but lived in DC, and were allowed to remain anonymous because of the MD purchase. It's one of the few good things about Maryland

I'd say it's smart of her to come forward right away (since she's required to do so in Mass), so that speculation doesn't linger. The sooner she came forward, the sooner hype would die down.

It's true, you create a trust and have the trustee collect the money, you remain anonymous. That was this woman's first mistake, she'll be broke in five years. Not all people have the brains to wait and seek advice.

FFS people, if she bought the ticket in Massachusetts she is NOT ALLOWED TO CLAIM ITHE MONEY ANONYMOUSLY. The Lottery there is paying you, and one of the terms of the payment is that you function as a walking, talking advertisement for the Lottery.

Dude, you are dumb as rocks. What you do is you hire lawyers who help you form an LLC of some sort, and you claim the winnings through the LLC. Your anonymity is then protected.

If you stopped yelling at strangers on the internet and actually researched this, you would already know this.

I guess you're dumber and rocks are happy.

As has been stated, multiple times with sources, 6 states allow individual anonymity. 3 other states allow (perhaps) for the use of intermediary entities to preserve anonymity.

And why do you need lawyers to set up an LLC for this purpose? Just form it. Online. Directly.

My suggestion is that you do some research too. Find out what an ass you are.

But off name yourself the officer of the LLC, it's public information. That's probably how the reporters found that 82 yo man

She did something very stupid oming forward immediately. NEVER a good idea. Tell no one and call attorney, cpa and get started forming trusts and making plans.

Anonymous wrote:

Anonymous wrote:She looks like a nice, down-to-earth, woman snd I wish her well.

Same here. Congratulations to her.

Her statement about already quitting her job (and the huge grin on her face when she said it) was awesome. I hope she enjoys her new fortune.