Any suggestions for a person who wins the lottery?
First of all, it is vital that you tell no one of your winnings, because your life will change dramatically and immediately if you do. You will most likely be besieged by people soliciting you for causes and investments you never dreamed of. By maintaining an extremely low profile, you can avoid being taken advantage of.
Another good idea is to change your telephone number and have it unlisted. Meet with an attorney as soon as possible and set up a trust agreement or partnership so that you can minimize the tax effects of receiving a large sum of money. Do not sign the winning ticket until after you have met with your attorney because there can only be one name on the winning ticket. It may be advisable to name as the winner a trust or partnership suggested by your attorney.
It is vital for you to meet with some professionals so that you make the right moves with your new-found wealth. If you have a winning lottery ticket, it is essential that you safeguard it. Put it in a safe place and tell only those you trust of its location.
There was a $17+ million lottery winner in Melbourne, Florida, on Sept. 4,1993. She owned a local beauty salon and her husband was an air force sergeant. This woman told no one about her winning ticket, not even her spouse or grown children. She put it in a bank safe deposit for safekeeping. At Christmas, she gave her husband a gift-wrapped present containing this winning ticket. But that could have been a big mistake. If she had become ill or incapacitated, the expiration date could have passed (six months and one day after the date on that winning ticket) and the ticket would have become worthless.
In 1994, more than 120 people were struck by lightning in Florida and less than 40 people won the lottery. A Florida resident has more than a three-times-greater chance of being struck by lightning than winning the lottery.
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