hmm, first thing is to get a handle on how much you really will recieve. I made up an excel sheet that takes as input the cash value, deducts the 27% the MUSL withholds and also the other 8% you will owe at the top of the tax bracket... now I have a real number to work with... if I won last night, I would have planned on managing 65 million (not the posted 100 millon).
second, planning the anonymous trust to claim it quietly. Even the trust lawyer would not know at this point since I'd start the trust with a small account.
third, planning where it goes... fdic insurance limits make spreading it around more desirable. new programs involving CDs have 5 million fdic insurance.
fourth, knowing the delay... about 8 weeks to prepare to cash in the ticket and another 8 weeks until the ticket is verified and you actually have access to the money.
at this point, telling the mrs. comes into play! how? when I go to the "job" Iwould quit after access to the money and swap the minivan and some cash for the classic mustang convertible of her dreams and show up at home early! in the glove box, the deed to our house (since I will have paid off the mortgage) and some brochures for beachfront property along the grand strand ;-)
the kids would be next... full rides to the 4 year college of their choice and a "graduation bonus" (to cover a house and a car) also a trust fund that would pay them weekly so they could follow their hearts in the workforce rather than the whims of employers. find something they would do for free (that's how you pick a career) and they wouldn't need to stress over the details of life.
for the parents (and in-laws)... pay off alltheir debts and hook 'em up with new homes... cash gifts limited to prevent that nasty gift tax (of course if you had no bills besides utilities and taxes, 10 grand goes a long way)
hook up my only brother and the mrs. has brothers and sisters too, and we all get along and I would hook em all up... I have no doubts in the opposite positions that they would do the same!
I have a budget planned for everything, including luxury items... a "toy" budget that, when gone... will not be taken from other places. I know the Mrs.would also like an H2, and I would like a home recording studio and a seaplane. there is a budget to set up a business (in my case a skatepark) and I know my gal likes horses...
a 35 year "pay" (complete with 3% annual cost-of-living increases) will be esablished as a mini annuity, where money comes from the trust fund into our personal accounts, this includes all utilities/food/gas/medical insurance/other insurances/preventative health measures (exercise, smoking cessation, proper diet and plenty of regular checkups)... even a weekly allowance for the younger kids and weekly "pay" for myself and my wife.
then a 10% savings/retirement account not to be touched until the 35 year "pay" runs out.
the new house would be small enough to maintain but be on alot of land.
charities to include the red cross and Shriner's Children's Hospital among others.
yes, I have just about every detail worked out... that's probably why I will never win.