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You Just Won The Lottery!

Topic closed. 42 replies. Last post 3 years ago by KY Floyd.

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DetroitLionBoy's avatar - Detroit01
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United States
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September 12, 2014
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Posted: January 26, 2015, 4:22 pm - IP Logged

The next day u found out that u won the mega millions worth over 300 million dollars! What are your steps before u cash in that ticket?

For me:
1) I wouldnt cash it in until i finish my semester here at the college as i want that to be done first
2) i would get a deposit box with my bank and leave it there until i feel ready
3) I would only tell my parents since i only trust them with a big secret
4) Lastly, Time to cash it in but rest of my family would not find out till i feel so.

thats my situation. Some would bring lawyers in and a accountant but thats if u wanna spend more which i dont want to since NY takes the heck of a tax of the winnings. Plan ahead and everything will fall into your hands

What would u do?

Hurray!

Cash 4 life 3/5 numbers= $25 (9/1/14)
TAKE 5 4/5 numbers= $775.00 (2/21/15)

im bound to win the jackpot!!  Cool

    mikeintexas's avatar - h87TsB4
    Texas Panhandle
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    December 20, 2012
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    Posted: January 26, 2015, 7:49 pm - IP Logged

    The first thing you should do after winning, if you hadn't already, is sign the back of your ticket.  Then you need to make copies of both the front and back. 

    Some would bring lawyers in and a accountant...

    Those are the people I would bet will still have the bulk of their winnings after five/ten years.  If I won 100k or less, I wouldn't.  100+ million?  You bet your sweet bippy I'm going to get professional advice before claiming.

      LottoLucy's avatar - hereslucy header.jpg

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      Posted: January 26, 2015, 7:53 pm - IP Logged

      I would probably double check with an attorney and confirm my belief that a trust isn't necessary.  After that I would immediately go to lottery headquarters and cash in the ticket.  In my state I can claim the prize annoymously.  My husband would quietly retire.  I would keep my mouth shut and not tell anyone I won for several months just to muddy the waters so they wouldn't know exactly how much I had.  I figure family would probably figure out that my standard of living had changed so I would eventually have to mention it although I would also try to avoid telling them which game I won.  I would make a one time cash gift to my siblings.

      With that much money I would sign up with Delta Private Jets, buy a tract of land where I can run my dogs without interference, and I would hire someone to shovel my snow!

      Lotto Lucy

        DetroitLionBoy's avatar - Detroit01
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        Posted: January 26, 2015, 8:21 pm - IP Logged

        I would probably double check with an attorney and confirm my belief that a trust isn't necessary.  After that I would immediately go to lottery headquarters and cash in the ticket.  In my state I can claim the prize annoymously.  My husband would quietly retire.  I would keep my mouth shut and not tell anyone I won for several months just to muddy the waters so they wouldn't know exactly how much I had.  I figure family would probably figure out that my standard of living had changed so I would eventually have to mention it although I would also try to avoid telling them which game I won.  I would make a one time cash gift to my siblings.

        With that much money I would sign up with Delta Private Jets, buy a tract of land where I can run my dogs without interference, and I would hire someone to shovel my snow!

        is their a site that lists which state can claim annoymously?

        Cash 4 life 3/5 numbers= $25 (9/1/14)
        TAKE 5 4/5 numbers= $775.00 (2/21/15)

        im bound to win the jackpot!!  Cool

          mikeintexas's avatar - h87TsB4
          Texas Panhandle
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          Posted: January 26, 2015, 8:32 pm - IP Logged

          Six states — Delaware, Kansas, Maryland, North Dakota, Ohio and South Carolina — allow winners to remain anonymous.

            LottoLucy's avatar - hereslucy header.jpg

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            Posted: January 26, 2015, 8:43 pm - IP Logged

            Six states — Delaware, Kansas, Maryland, North Dakota, Ohio and South Carolina — allow winners to remain anonymous.

            I know Ohio is always included in that list but you can only be annoymous under a very specific set of circumstances.  Basically by having a blind trust claim the prize.  Shudder.  No way would I do that.  I guess I am a control freak but I wouldn't want others managing my money for me.

            Lotto Lucy

              Teddi's avatar - Lottery-008.jpg

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              Posted: January 26, 2015, 9:31 pm - IP Logged

              If the lottery ever gets past $750 million, I'm driving to SC to buy tickets so hopefully the whole going into hiding thing won't apply to me. Meet with a few financial advisors, ones that deal with high net worth and sudden wealth, and a lawyer. Work out a cover story, start my domestic violence foundation (that will be my new day job until I draw my last breath), buy dream house, dream car, travel whenever possible.

              I know this is further along down the road than immediate aftermath, but immediate aftermath depends on if I win in an anonymous state or a public one. But my long-term plans haven't changed so that's easier to tell.

                DetroitLionBoy's avatar - Detroit01
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                Posted: January 26, 2015, 9:54 pm - IP Logged

                If the lottery ever gets past $750 million, I'm driving to SC to buy tickets so hopefully the whole going into hiding thing won't apply to me. Meet with a few financial advisors, ones that deal with high net worth and sudden wealth, and a lawyer. Work out a cover story, start my domestic violence foundation (that will be my new day job until I draw my last breath), buy dream house, dream car, travel whenever possible.

                I know this is further along down the road than immediate aftermath, but immediate aftermath depends on if I win in an anonymous state or a public one. But my long-term plans haven't changed so that's easier to tell.

                hmm never considered doing a job with the money. i like that idea. I like working with kids so maybe after school sport activities free of entry if they have good academic standards

                Cash 4 life 3/5 numbers= $25 (9/1/14)
                TAKE 5 4/5 numbers= $775.00 (2/21/15)

                im bound to win the jackpot!!  Cool

                  Teddi's avatar - Lottery-008.jpg

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                  Posted: January 26, 2015, 10:25 pm - IP Logged

                  hmm never considered doing a job with the money. i like that idea. I like working with kids so maybe after school sport activities free of entry if they have good academic standards

                  A lot of winners say they felt lost (some even depressed) when they went from having a fulfilling job (one filled with purpose and responsibilities) to having nothing to do every day for years on end. Those who got into meaningful pursuits after winning seem to adjust better. Though I don't think this applies to those who hate their jobs. I would imagine it might be rather easy to spiral downhill if one lived an existence without anything to give you purpose or goals. Maybe not for the first year or two but perhaps 5 years down the road. This is a cause I believe in and if I had the funds to make it a reality, I'd definitely do it.

                  I too would prefer Cersei Lannister to Littlehands.

                    noise-gate's avatar - images q=tbn:ANd9GcR91HDs4UJhjxO7cmeMQWZ5lB_FOcMLOGicau4V74R45tDgPWrr
                    Chasing the Dream.
                    Utopia- California
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                    Posted: January 26, 2015, 11:59 pm - IP Logged

                    If the lottery ever gets past $750 million, I'm driving to SC to buy tickets so hopefully the whole going into hiding thing won't apply to me. Meet with a few financial advisors, ones that deal with high net worth and sudden wealth, and a lawyer. Work out a cover story, start my domestic violence foundation (that will be my new day job until I draw my last breath), buy dream house, dream car, travel whenever possible.

                    I know this is further along down the road than immediate aftermath, but immediate aftermath depends on if I win in an anonymous state or a public one. But my long-term plans haven't changed so that's easier to tell.

                    l " think" you would still be on the hook for exposure in your own State Teddi.You may be able to dodge the bullet in the SC- but your State is going to come after you for Taxes and who knows what else. Nothing like taking a shot at it nonetheless.Smile

                    People who say it cannot be done should not interrupt those who are doing it- George Bernard Shaw.

                      JustJim's avatar - driver
                      SunPrairie Wisconsin
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                      Posted: January 27, 2015, 12:07 am - IP Logged

                      I'd definitely bring another financial adviser (or two) on board besides the one I've already got...I'd probably try to work out some kind of arrangement with an attorney's office to see if I could get them to front me the purchase money for my house (with security system) to be titled in the name of a blind trust prior to claiming the prize.  After that, it would be time for new cell phones, phone numbers, email addresses and a makeover.  I'm probably forgetting some details, but boy, what problems to have, huh?  It would be a blast to be able to fund yourself to learn something new, whether it's a new small business, or try some day trading, or flipping cars or houses.  I'd probably have to spend a few weeks on some tropical beach thinking over my plans! Leaving

                      GO BREWERS!!

                        mikeintexas's avatar - h87TsB4
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                        Posted: January 27, 2015, 12:51 am - IP Logged

                        I'd definitely bring another financial adviser (or two) on board besides the one I've already got...I'd probably try to work out some kind of arrangement with an attorney's office to see if I could get them to front me the purchase money for my house (with security system) to be titled in the name of a blind trust prior to claiming the prize.  After that, it would be time for new cell phones, phone numbers, email addresses and a makeover.  I'm probably forgetting some details, but boy, what problems to have, huh?  It would be a blast to be able to fund yourself to learn something new, whether it's a new small business, or try some day trading, or flipping cars or houses.  I'd probably have to spend a few weeks on some tropical beach thinking over my plans! Leaving

                        ^ This. I Agree!  I just had a series of PMs with an LP member and said this very thing in the last message.  You're never too old to learn - I would take cooking and photography classes, learn to fly and sail, maybe take up needlepoint or quilting.  Even though I'd let reputable professionals handle the bulk of a huge JP, I'd invest a goodly sum on my own, one large enough to be exciting, but not so large as to really hurt if I lost most or all of it...just one of the several hobbies I'd take up.   I can't fathom growing bored or being disinterested...I'm poor as a church mouse now and will never be bored and disinterested, how could I be that way with more money than I'd ever had in my life?

                        Most of all, I'd invest not only in myself, but in my family and friends and the town I grew up in and the one I'd live in after I won...but I'd still want to keep learning.  I hope that, as I lay on my deathbed and the light leaves my eyes and I start to see whatever lies beyond this mortal coil, that my last words will be "Wow....I never knew that!"

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                          Posted: January 27, 2015, 12:57 am - IP Logged

                          Lurking i used to buy tickets and just throw them away without checking them figuring that i didn't win. it always seems to be somebody else who wins etc. also before personal computers it seemed like a major pain to someone who was busy like me to check them. so i probably threw away millions!?I Agree!

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                            Posted: January 27, 2015, 1:03 am - IP Logged

                            Blush what about Publisher's Clearing House? is that a friggin' rip off or what?White Bounce

                              numbergirly's avatar - 0002009C
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                              Posted: January 27, 2015, 1:13 am - IP Logged

                              Once I collect myself......which would take at least two weeks, I would contact no one but a lawyer and a very good  accountant and try my best to keep my name/photo out of the spot light.Wink

                              WHEN LIFE GIVES YOU LEMONS   Ice Water