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Priorities after winning the jackpot

Topic closed. 14 replies. Last post 7 years ago by Dollar419.

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January 13, 2010
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Posted: April 19, 2010, 6:15 pm - IP Logged

This isn't so much as what I would buy as much as it is in preparing myself and my family for such a "gift"

1.) Priorty 1- Protect my family.  Make sure that if/when I win that my family is not "cursed"  Public relations can put a strain on solid relationships.  I would seek advice from an attorney for this on how I could keep my family from being bothered.  The attorney can be used as a conduit to dealing with law enforcement for extra patrols. If you have young children, you can have the atty disuss with the school or school district on the safety in the school.  You can offer throught the atty some kind of "gratuity" from those that are doing extra to protect you and family.  Alarm system in the house. Pre-paid cell phones. PO Box and "new" apt where my driver's license can be changed to.  AT this point, the 3 people Iwould tell,my parents and brother would  not be informed yet. My main concern is that my family does not feel the bad side effects of a fortunate event.

2.) Protecting the assets: With an estate/tax atty, discuss options where the house can be put in a trust as well as any other assets. I would have the atty contact the mtg co to make arrangements  for this. I would also look for a place to temporarily park the assets once claimed. I may have to put the "house up for sale" to keep up with appearances...3.) Move  household items into storage. These are things that are outside....porch swing, gas grill, anythingnot bolted down or locked inside the house that someone could steal.

4.) Let the 3 people know, there are things that they will need to do to keep themselves protected.

5.) Tender a resignation or leave of absence...(depends on the size of the jp and anonymity)

6.) Find a motel near the lottery hq.

7.) Claim with atty. diguises, no comment/ no press no check presentation

8.) Lay low for a while. A couple of weeks....a month.  I would want to be near family, but I would want to get away too.

    THRUST's avatar - f35l

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    Posted: April 19, 2010, 6:55 pm - IP Logged

    All I have to say is... Be smart, not paranoid. The only people that are going to come after you are the people who you let come after you.

    Family and friends are the worst , not strangers. You will get more grief from family and friends than a stranger...believe me.

    I would wait 2 weeks so they would have all my money ready.

    1. Make copies of the ticket and secure it...don't tell anyone at this point.

    2. I would prepare myself to move...because I am not staying in VA. I don't own anything or have any real obligations so I am good. Thumbs Up

    3. Find the proper attorneys...consult multiple attorneys & make sure all the debts and liabilities are taken care.

    4. Consult with financial institutions about secure the money, consult multiple ones.

    5. I agree on checking into a hotel near the Lottery HQ. I would also have my plane ticket ready and hotel...all accommodations where I am going to.

    7. Claim-Cash amount with attorney, dress business casual with sunglasses...no need for a ridiculous disguise...I would do what is needed and get the h3ll out of there. I would not reveal any plans, just say I am grateful and that it is a blessing.

    8. Take a plane to my destination of choice and set up shop  and relax. I would dress different...maybe so I don't stand out on the trip.

    I am not close with my family...only my parents, brother, sister and her husband would be in on it until I leave...hopefully. 

    I welcome a big jackpot win, I want it and would enjoy it fully. Smiley

     

    This is a good article http://www.essortment.com/home/lotterywinpriz_sclb.htm

    and this https://moneycentral.msn.com/content/Banking/P43409.asp <<<---this one is really good!

    $1,000,000

      ca-dreamin*'s avatar - Lottery-065.jpg
      Chicago
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      Posted: April 19, 2010, 9:34 pm - IP Logged

      My main priority would be TELL NO ONE!!!!! LOL not till the money was in my possession and I could tell I'm not sure who at this point from a distance.......as in phone or e-mail.

        Lucky Loser's avatar - bucks
        Texas
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        Posted: April 20, 2010, 12:55 am - IP Logged

        This isn't so much as what I would buy as much as it is in preparing myself and my family for such a "gift"

        1.) Priorty 1- Protect my family.  Make sure that if/when I win that my family is not "cursed"  Public relations can put a strain on solid relationships.  I would seek advice from an attorney for this on how I could keep my family from being bothered.  The attorney can be used as a conduit to dealing with law enforcement for extra patrols. If you have young children, you can have the atty disuss with the school or school district on the safety in the school.  You can offer throught the atty some kind of "gratuity" from those that are doing extra to protect you and family.  Alarm system in the house. Pre-paid cell phones. PO Box and "new" apt where my driver's license can be changed to.  AT this point, the 3 people Iwould tell,my parents and brother would  not be informed yet. My main concern is that my family does not feel the bad side effects of a fortunate event.

        2.) Protecting the assets: With an estate/tax atty, discuss options where the house can be put in a trust as well as any other assets. I would have the atty contact the mtg co to make arrangements  for this. I would also look for a place to temporarily park the assets once claimed. I may have to put the "house up for sale" to keep up with appearances...3.) Move  household items into storage. These are things that are outside....porch swing, gas grill, anythingnot bolted down or locked inside the house that someone could steal.

        4.) Let the 3 people know, there are things that they will need to do to keep themselves protected.

        5.) Tender a resignation or leave of absence...(depends on the size of the jp and anonymity)

        6.) Find a motel near the lottery hq.

        7.) Claim with atty. diguises, no comment/ no press no check presentation

        8.) Lay low for a while. A couple of weeks....a month.  I would want to be near family, but I would want to get away too.

        Listen, there are other confidential ways to accomplish everything you're describing here. Going about it in the manner demonstrated here will actually draw more attention to you than diverting it. Why? Because you're doing things which are not characteristic of you in your daily life. People will wonder...and inquire.

        Why not just take LOA from work and, FIRST, GATHER YOURSELF. You have (180) days to claim the money and then start passing it out to family, okay. They will be fine. Yes, get a real good attorney that is credible and has dealt with this sort of thing...DO YOUR HOMEWORK ON THEM, TOO. They're the one's who can really get you because they'll know all your financial business.

        If done correctly, only you and the attorney should know about this and proceed to handling it in a low key manner. YOU are the only person that should be calling any shots or making transactions...the attorney or financial advisor is just that...to advise and/or protect your financial interests. You pay them...they don't pay themselves out of your account(s). Monitor your investments and interests at all times and don't let them just tell you any old thing. Following up on them will show them that you're on top of them at all times and they won't be prone to trying anything "janky".

        It's ultimately up to you to look out for your money and well being with the least amount of people involved as possible. In the end, it will still be hard simply because it's exciting and family talks meaning it'll get around eventually. The idea is to already be settled somewhere else when it does.

        No need to resign from your job, just tell them that you've found a better opportunity else where and give them the proper two weeks notice. As far as they know, you're still gonna be working somewhere. Again, no red flags here.

        I do like your approach, just not quite the order and excessiveness of it.Thumbs Up When you hit, just remember...Shhhhhhhh.

        L.L.

         

          Coin Toss's avatar - shape barbed.jpg
          Zeta Reticuli Star System
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          Posted: April 20, 2010, 1:06 am - IP Logged

          I would do some of the things mentioned thus far, but Lucky Loser made some good points, too.

          Personally, one of my priorities would be going someplace with cool cummers, I hate hot weather.

          Also, if I won a huge jackpot, I would arrange with a psychotherapist to counsel people, myself included, who get into discussions about what they would do with yet-to-be-won millions.

          Green laugh

          Those who run the lotteries love it when players look for consistency in something that's designed not to have any.

          Lep

          There is one and only one 'proven' system, and that is to book the action. No matter the game, let the players pick their own losers.

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            CA
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            Posted: April 20, 2010, 4:31 am - IP Logged

            First thing I would do the day after would be setting up an account for the money. Either a CMA or a "private banking" account. I can get things done pretty discreetly since nobody really pays attention to me and I'm not working. I don't see myself getting a lawyer but I have a friend whose family has a few of them so if I do decide to get one I'll have some advice. The only people that I will tell is my immediate family and have them tell no one.

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              Posted: April 20, 2010, 12:01 pm - IP Logged

              Keeping quiet would be a given.....

              The CMA would be the type of account to set up.

              I know that my post seems a little paranoid. But there are immediate family membrs that I would want to help that I know might have some difficulties (it's like collateral damage....I might be ok, but will they be ok?) . I would want to protect them from the parasites.  Eventually getting ones name out there might cause people to knock on the doors of my family and try to get to me through them. I keep thinking about that last winner in California....the press knew that he won and hounded him before he could get away and protect himself and his family.

              I would want to stay in my house....I am close to family and would not want that to go away....I am not big on travelling,that's not to say that I wouldn't go away....I just wouldn't want to go away all the time.....I actually like doing work around the house, fixing things so I would have time to do this.

              If I did "rent" an apartment, nobody in my family would really know about it. The "address" change would be virtually invisible t everybody but my lawyer.

              I suppose just before the claim, one could mention to the police through an attorney about patrolling near the house.

              Also, the other thing that could be done is set up a couple of entities to purchase any property that I own so that they are not in my name.

              It's all about keeping what you were blessed with from becoming a curse

               

              I know winning is a long shot, but if you aren't prepared to think about all the ramifications and complications, why play?  It's easy to think what living on easy street would be like....big house, fancy cars, trips to exotic places, buying things for your kids that you could not afford before......but these are the things that if you are not careful.....you could lose them in the end.

                Lucky4Life's avatar - batman14

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                Posted: April 20, 2010, 12:21 pm - IP Logged

                My priorities:

                 

                1.  Change my name.

                2.  Move.

                 

                That's it.  If I move to a community where other millionares live i'm not sure why there would be an issue of harrassment any longer.  I would never expect to keep my current home in a modest neighborhood and not be bothered by people!

                  Lucky Loser's avatar - bucks
                  Texas
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                  Posted: April 20, 2010, 12:26 pm - IP Logged

                  Keeping quiet would be a given.....

                  The CMA would be the type of account to set up.

                  I know that my post seems a little paranoid. But there are immediate family membrs that I would want to help that I know might have some difficulties (it's like collateral damage....I might be ok, but will they be ok?) . I would want to protect them from the parasites.  Eventually getting ones name out there might cause people to knock on the doors of my family and try to get to me through them. I keep thinking about that last winner in California....the press knew that he won and hounded him before he could get away and protect himself and his family.

                  I would want to stay in my house....I am close to family and would not want that to go away....I am not big on travelling,that's not to say that I wouldn't go away....I just wouldn't want to go away all the time.....I actually like doing work around the house, fixing things so I would have time to do this.

                  If I did "rent" an apartment, nobody in my family would really know about it. The "address" change would be virtually invisible t everybody but my lawyer.

                  I suppose just before the claim, one could mention to the police through an attorney about patrolling near the house.

                  Also, the other thing that could be done is set up a couple of entities to purchase any property that I own so that they are not in my name.

                  It's all about keeping what you were blessed with from becoming a curse

                   

                  I know winning is a long shot, but if you aren't prepared to think about all the ramifications and complications, why play?  It's easy to think what living on easy street would be like....big house, fancy cars, trips to exotic places, buying things for your kids that you could not afford before......but these are the things that if you are not careful.....you could lose them in the end.

                  At least you're trying to get a descent plan together "just in case". Being prepared is half the battle with anything and I commend you on this. Consider yourself "planning to win" and write all these things down somewhere as they come to you, okay. Why" Because you just never know when it might happen. At least then, you'll have something to work with. Look at it everyday as this will train you to think about it all the time and possibly discover better ways to do things.

                  Then, if or when you hit, your first instinct will be reverting to your plan. Make sense? I hope so. All about planning. Best of luck to you!!!Thumbs Up

                   

                  L.L.

                   

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                    Posted: April 20, 2010, 1:50 pm - IP Logged

                    I like to think that I am "planning to win"....In my postings, I am taking into account other people's situations....in case they are the fortunate ones to win.  If it is a huge jackpot, it may be easy to uproot and move away but here are situations that some may encounter

                    Some people have young children that need care.  Uprooting them from their homes, no matter how fortunate, can be devastating.  I know that there are alot of loose screws out there and even though you can say no, move away, the kids are in a vulnerable situation.  You may not necessarily mention that you have kids,but there are alot of shrewd people who can connect the dots (they know someone that knows someone that goes to the same school as your kids).  The last thing one would want is to pay for a shrink because your kids grow up with a sense of isolation because of the money or a sense of entitlement because they feel that money can buy them anything or sense of anger because their lives were uprooted through no fault of their own.  It's kind of like kids with parents going through a divorce...only (instead of winning the lottery) they are given a real crappy hand of cards to deal with and each kid plays their hand differently....some kids feel that they are owed something because they did not want to be a part of the divorce, others will be angry and lash out and others will feel isolated because they had to move away.  Since I brought up divorce, family obligations my play a big part in staying nearby as you may share joint custody.  Suppose you are divorced, you won and share jt custody.  While the ex may not be entitled to squat, would you really want to move away from the kids? 

                    If someone lives near elderly parents, the elderly parents may not be able to move (maybe they are in assisted lvg etc.) Moving away from them would not necessarily  be a good thing for you or them.  With the Pball jackpot right now ($252 ml annuity)  you have alot of money, you could possibly move them, would they be happy?  Suppose the jackpot were a modest one..... say $12mil annuity/ $6 mill cash.... you are going to burn through money quickly moving into a million dollar neighborhood after moving away from a job, family and old home.  I am posing these as rhetorical questions and not trying to start a fight.

                     

                    The other question is while you move to a multi million dollar neighborhood, will you fit in? will you be happy in new surroundings away from old friends and close family?  I know that you can't buy happiness, at least in the long run, you can't.

                    Suppose you bought a McMansion in another state, would you be able to afford the upkeep, the taxes?  What about work? if you have a job and skills that put you solidly in the middle class, you are not ncessarily going to become CEO that would enable you to keep up with the bills on the house.  You will burn through the jp quick just to keep up.  I know that I would want the money to last for a long time. I think that might be why people burn through the money....they are trying replace something that they don't have anymore or they bit off more than they can chew.

                    And you can't put a price on the safety of our families.

                    I guess there has to be some happy medium between playing it safe and enjoying the money without blowing it. These are just some things to think about.  On one hand, you have the means to better your life. On the other hand, you have costs that you need to take into account for your own well being and your family's as well as protecting the money.

                    I hope that if someone on this forum wins that they take the necessary precautions.

                      THRUST's avatar - f35l

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                      Posted: April 20, 2010, 2:13 pm - IP Logged

                      I pretty much have everything planned out...mainly so I can move fast and be squared away before I claim my jackpot. I plan on leaving right after I claim my jackpot and letting my parents deal with other relatives...like I said I am not close to my family and all my "friends" abandoned me long ago after using me till I was no longer useful to them. I pretty much stand alone in all this and I like it like that. Thumbs Up

                      Do your homework and just use common sense. The only person who can tell you; who, what, when, where and why with your money is you.

                      $1,000,000

                        Lucky Loser's avatar - bucks
                        Texas
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                        Posted: April 20, 2010, 2:34 pm - IP Logged

                        I pretty much have everything planned out...mainly so I can move fast and be squared away before I claim my jackpot. I plan on leaving right after I claim my jackpot and letting my parents deal with other relatives...like I said I am not close to my family and all my "friends" abandoned me long ago after using me till I was no longer useful to them. I pretty much stand alone in all this and I like it like that. Thumbs Up

                        Do your homework and just use common sense. The only person who can tell you; who, what, when, where and why with your money is you.

                        You last two sentences are just priceless.Yes Nod

                         

                        L.L.

                          Lucky Loser's avatar - bucks
                          Texas
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                          Posted: April 20, 2010, 2:35 pm - IP Logged

                          You last two sentences are just priceless.Yes Nod

                           

                          L.L.

                          Sorry..meant to say "Your". LOL!!

                            ca-dreamin*'s avatar - Lottery-065.jpg
                            Chicago
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                            February 8, 2009
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                            Posted: April 20, 2010, 11:17 pm - IP Logged

                            My priorities:

                             

                            1.  Change my name.

                            2.  Move.

                             

                            That's it.  If I move to a community where other millionares live i'm not sure why there would be an issue of harrassment any longer.  I would never expect to keep my current home in a modest neighborhood and not be bothered by people!

                            I like these ideas!!!!!

                            This would be the perfect time to change my name HAHAHA I still have my married name.

                            Move......everyone knows I wanna get ot of IL so this wouldn't be unusual.

                              Dollar419's avatar - Lottery-050.jpg
                              Santa Ana
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                              February 20, 2009
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                              Posted: April 21, 2010, 11:33 pm - IP Logged

                              This isn't so much as what I would buy as much as it is in preparing myself and my family for such a "gift"

                              1.) Priorty 1- Protect my family.  Make sure that if/when I win that my family is not "cursed"  Public relations can put a strain on solid relationships.  I would seek advice from an attorney for this on how I could keep my family from being bothered.  The attorney can be used as a conduit to dealing with law enforcement for extra patrols. If you have young children, you can have the atty disuss with the school or school district on the safety in the school.  You can offer throught the atty some kind of "gratuity" from those that are doing extra to protect you and family.  Alarm system in the house. Pre-paid cell phones. PO Box and "new" apt where my driver's license can be changed to.  AT this point, the 3 people Iwould tell,my parents and brother would  not be informed yet. My main concern is that my family does not feel the bad side effects of a fortunate event.

                              2.) Protecting the assets: With an estate/tax atty, discuss options where the house can be put in a trust as well as any other assets. I would have the atty contact the mtg co to make arrangements  for this. I would also look for a place to temporarily park the assets once claimed. I may have to put the "house up for sale" to keep up with appearances...3.) Move  household items into storage. These are things that are outside....porch swing, gas grill, anythingnot bolted down or locked inside the house that someone could steal.

                              4.) Let the 3 people know, there are things that they will need to do to keep themselves protected.

                              5.) Tender a resignation or leave of absence...(depends on the size of the jp and anonymity)

                              6.) Find a motel near the lottery hq.

                              7.) Claim with atty. diguises, no comment/ no press no check presentation

                              8.) Lay low for a while. A couple of weeks....a month.  I would want to be near family, but I would want to get away too.

                              I agree totally--we will win and when we win, I will follow part of these helpful "lottery" suggestions--GOOD LUCK TO YOU.Hurray!