A single ticket in South Carolina won : https://www.cnn.com/2018/10/24/us/mega-millions-drawing-wednesday/index.html
No one cared? Man . . .. . . I always wonder why people said they would bring an attorney and accountants etc What would they do? Rocket River
The only lottery I ever won was a stupid work-branded lunch box from a previous job. So lame. Oh...and remember those "sign up for a free trial gym membership" raffle boxes? Of course, everyone won those cause it was a sales gimmick to get you in and close the deal.
They would advise people how best to handle things so they know their tax liability. They help them to make informed decisions. They help them decide if they should set up LLCs to handle the new found wealth. They help them decide whether or not to take the cash option or the annual payment. If you all of a sudden won $1,000,000,000 what would you do? Take the big check and deposit into your checking account at Wells Fargo?
Can you change between cash option or annual payment after you've already won? I thought this was done at point of purchase of the lottery ticket(s)? If I won, then first I would sh_t my pants and then I would keel over having a heart attack. I don't think I could have that amount of money hanging over my head. But, yea, that's why you get accountants and advisers. Just hope you get good ones who don't skim off your pile. FDIC insures savings accounts up to $150k..right? How many of those would I need for the cash option? Hmm. To me, it's more fun to dream about winning a big pile of money than actually winning a big pile of money...because of the headaches to follow. I dunno. I would suspect managing your money becomes close to a full time job after you win. Nah...I'll go back to my job before I won! And, all of the family and people coming out of the woodwork to get in on a slice of your winnings.
LOL! I was thinking about it. IF you won a billion dollars and lost 500 million most people would still be ok with it but agree . . .an extra 250 million savings is worth it Honestly I often think of taking the payments for the security . . . .. versus the extra worth of the lump sum But when it came time to sign I'd probably take the Lumpy Lump Lump Now I am going to google books on what to do if you win . . . . Rocket River
https://www.statefarm.com/simple-insights/financial/what-to-do-when-you-win-the-lottery Before turning in the winning ticket Secure your ticket. Make several copies of both sides to show your new lawyer and/or accountant (see below), and then lock the actual ticket away in a bank safe deposit box or a secure personal safe. Once you have a team of advisors in place, have them look over the rules and contract before you sign the original ticket—in some cases, signing your ticket might prevent you from creating a blind trust later. Take a deep breath and take your time. You have a set amount of time to turn in your ticket, so don't run off to the lottery office first thing the next morning. Let yourself calm down, and then set to work carefully forming your team and plans before you contact the lottery officials. Protect your privacy. As tempting as it may be to shout it from the rooftops and throw a huge "I won the lottery!" party, keep it as much to yourself as possible, especially before turning in your ticket. Some lotteries will require you to make your name public, give interviews, or show up at a press conference. If so, be sure to change your phone number and set up a new P.O. box beforehand to avoid being inundated with requests. You may also consider forming a blind trust through your attorney to anonymously receive the money, keeping your name out of the spotlight. Put together a crack team. You're going to need a lawyer, accountant, and financial advisor who have experience with large financial windfalls—finding them should be one of your first steps before you claim your money. Make a general plan. Before you start forming specific financial plans with your advisors, step back and think big-picture about what you want from this money. Write down your personal, financial, lifestyle, family, and charity goals, and return to that plan later to help keep things on the right track for the long run. Lump sum or annuities? One of the first decisions you and your team will have to make is whether to take your winnings in one lump sum (usually around 60% of the total value) or have it paid out to you annually over a period of time. Long-term investments take financial wisdom and restraint, but with careful planning, you may be able to grow your lump-sum winnings larger than the future annuity payments would have been. However, if you need some structural help to keep from overspending too quickly, an annual payout is a solid, responsible way to make sure you'll continue to have income through most of your adult life. Plan for beyond. Sadly, winning the lottery is unlikely to also make you immortal. Work with your team right away to sort out your estate planning, including your will, so your family is taken care of if something happens to you. Once you have your money Bank it. Don't show up at the cashier counter with a check for millions—talk to the bank's upper management or private banking department ahead of time to discuss the best options for holding large amounts of money. Remember, the government only insures individual bank accounts up to $250,000, so think about spreading your wealth around multiple accounts and banks. Set a budget. Silly, right? You have all the money you'd ever need—why do you need a budget? Actually, it's not silly at all. Sit down with your advisors and take a hard look at how much you really have after federal, state, and local taxes; what new annual expenses you'll have (for things like property taxes and upkeep and paying your financial team); and how much you want to give to charity. Think about future higher-education expenses for your family and how much you'll need in your golden years. Then set strict monthly and annual budgets for what's leftover and stick to them. Form a charity and giving plan. As soon as people find out you've hit it big, you're going to have to deal with a lot of financial requests from friends, family, and charities. Talk to your team about gifting taxation structures and how much you can give each year while still maintaining the lifestyle you desire. You may also consider forming an official charity foundation. Maintain your perspective and sense of self Don't quit your day job. Certainly not until you have your lottery money in hand, but even then consider sticking with some sort of part-time work or at least a passionate hobby. Depending on how important work is to your sense of self, you may want to try a new career or go back to school to study something you've always been interested in. Keep a healthy mind and body. We all know money can't buy happiness—in fact, some folks say winning the lottery and dealing with the money and requests for help and loans ruined their lives with stress. Eat right, exercise, talk to close family and friends, and seek professional counseling if handling your new wealth is causing too much emotional strain. Rocket River
A billion dollar prize is so ridiculous -- what do you even do with that much money? Anything more than about 20 million just seems like a huge hassle.
One thing you have to do is buy a huge home and move to a street where some of the big stars live in CA.
I joked and said I'd make a Marvel Movie honestly .. . . .It would not be a bad Idea cause Like you said. . .After 20~100 Million the rest is just money to pass on to the next generations Rocket River
