Retired NY principal claims $326M lottery jackpot

I've given some thought to that scenario; my own situation would be different since I have no children, but I would give my kinfolk the max $14k/yr and tell them I'll probably keep doing that until I die, but also inform them the bulk of my estate will go to the foundation I have set up in my grandmother's name...even though I WILL have willed them substantial money.  I don't think any of my nieces or nephews would murder me for their inheritance, but I've been around long enough and have read more than enough to realize that some desperate people will do horrible things for even fairly small amounts of money.  Also, with the annual gift, they might not be so apt to pull the plug if there's a chance I could recover.

not always pero es hermosa...(but it's beautiful!)

many won by electing their own numbers,as i do!

Then at times i choose a few add'l quick pick,so nice,early 80s,seem like a great healthy couple

so they can enjoy HAWAII and with their kids,grandchildren maybe a few great-grandkids by now

so beautiful to see this ...

adios

Felicidades todo!!!(CONGRATS!!!)

CHARITY,why would he do that.

CHARITY begin at HOME with his NY familia,and all over,wherever he has "good family members at."

Donate some maybe pero,familia es numero uno adios...

CONGRATS!!!!!!!!!

"I don't think any of my nieces or nephews would murder me for their inheritance"

There's a fair amount of truth in the adage that money brings out the worst in people. I've got a nephew who's basically a good kid, but also an accomplished f-up. While I doubt I'd have to worry about him, I wouldn't trust that he'd never have a friend that's that stupid.

If I won a large amount I'd give some to plenty of friends and family (remember that as of 2 weeks ago the estate tax exemption lets you gift $5.43 million in addition to the annual exclusion), but I'd make sure everyone knew that what I give them as a lump sum and/or annual gifts is all they'll ever get. That whatever I don't spend or give to charities before I die goes to charities when I do die would be worked in casually by way of telling them not to plan on anything extra down the road, and to use what they're given wisely, but making sure to deliver the message is just good planning.

As for using that estate tax exclusion, remember that you can set up a trust to set money aside for somebody now while still preventing them from using it until later. Not having the exclusion left for your estate only matters if you die while you've still got money. Sure, we can die unexpectedly, but if you don't you should have plenty of opportunity to make charitable gifts along the way. Whether you spend it on hookers and booze or making gifts to noble causes, the goal is to have enough to last the rest of your life and spend the last dime 30 seconds before you go. Of course a bit of estate planning helps make sure you don't give a huge chunk to the IRS as a result of hoping not to die so soon.

Interesting.  So you just play the lottery for charities?  this reply is to member named MYTURN

Principals actually make a very good salary.  I never knew that until the replacement principal of our local junior high had his hiring salary published in the paper.  100K a year.  WOW! I'm sure NY pays more also.  But this way he can travel and care for his family more extensively than he could have before.  Best of luck to him.

No, but  if I was  fortunate enough to win a large sum, especially if I was 80, I would like to do some good.

NOBLESSE OBLIGE

When you win that much money there's no shortage of friends, relatives, inlaws and outlaws who can suggest ways of you doing something good(for them).

Congrats to the lucky winners! That's a lot of money. I would definitely donate a percentage to charity. My family wouldn't have any financial hardships. Even the Bible says a good man leaves an inheritance!

Where does it say that?

My question was not advocating that the NY vendors should be getting " paid more" l was merely comparing that payout for a multi million dollar jackpot in relation to what a vendor would pull down out here... that's all.For instance the Subway restaurant owner who sold the winning $400 mil plus jackpot ticket in Milpitas in Feb 2014- got a check for a Mil. California ( at present) does not tax lottery winnings, and that is a good thing.

I can't post with Palemoon browser Todd.  Writing box doesn't show.

Anyway, if showing my face is required, I'd hire the best making artist there is and completely disfigure my face.  Long hair, moustache, tanned skin, the works.

Wow. To each their own, I suppose, but rest assured my children would get the bulk of a JP winner like this passed down to them in some form...a trust, whatever.

Yes, there'd be a large chuck for various charities, a helping hand for local businesses and services, etc. There's plenty in a JP this size to go around.

But just $100,000 to each kid and the rest to people/faceless organizations you don't know?

That's certifiably insane, in my humble opinion.

The Mega Millions jackpot for 01/16/15 is now a whopping $270M.

Only need one ticket to be "in the game".

Diamonds are valued higher than platinum...at least if you are a Medallion member with SkyTeam. Diamond Medallion is the top elite level and Platinum is second. So no change of name is necessary to be considered top dog. Now it is time for a 44 year old honest hard working stiff like myself to win.