|Posted: June 30, 2016, 7:56 pm - IP Logged|
I am a regular reader of LP forums and news. I also look at the USA Mega analysis for MM and PB to see how much the winnings could be after taxes in each state.
I joined today to make a first post. :)
I have read many posts about how to be responsible with the winnings, do charity work, how to put together a team of lawyers + financial advisors + CPA + tax consultant etc.
But i have not seen a list of specific actions to take that could help really protect oneself.
How can you be safe as you go about the following:
Assembling a team of financial advisors, lawyers, tax experts etc. How can you make sure you do not contact a scrupulous fella in those professions? Is there a list of professionals who have already had experience representing and helping a big winner?
If you make a legal entity - llc or corp or something else -, what do you look for to make sure the beneficiary is really the winner? With all the legalese jargon, how can you protect yourself??
Same goes for the financial advisor - almost all financial advisors make money from the investments they manage. What steps can you take to really ensure the investments are in your own interest and not to maximize the advisor's fees??