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Say I just won $25 million in the lottery

What do I do, just take the check up to a teller and say, "I'd like to make a deposit"? What's next?

by Anonymousreply 1311/24/2012

No... banks are only insured for $300k-ish on each account. Get that money out of the States!

by Anonymousreply 111/24/2012

If you old the winning ticket go rent a bank safe deposit box and lock it up.

Ask real people you know for a trusted qualified finanical advisor.

Go seehim or her and tell him or her that you have a twenty five million dollar lotto ticket.

He or se will tell you what you need to do to keep most of it (the irs has earmarked roughly fifty percent of that, and if you owe back taxes they will take 80%)

Do what your advisor says.

Quit your day job

by Anonymousreply 211/24/2012

Also keep your mouth shut. One word to a friend or worse a facebook posting will bring jillions of long forgotten friends to your door looking for a free money weekend on you. Except for me of course non of them deserve your cash

by Anonymousreply 311/24/2012

Don't most states release the name(s) of the winner(s) no matter what? I know some don't.

by Anonymousreply 411/24/2012

Consult an attorney.

by Anonymousreply 511/24/2012

Most major banks have wealth management teams. Go to an established banking institution where every move is carefully audited so you don't have to worry about trusting some single individual.

Then do what R2 and R3 says.

by Anonymousreply 611/24/2012

[quote]Don't most states release the name(s) of the winner(s) no matter what? I know some don't.

In Delaware, Kansas, Maryland, Michigan, North Dakota, and Ohio, lottery winners may remain anonymous.

In California, Colorado, Connecticut, Texas, Vermont, and possibly a few other states, winners may claim the money through a trust.

In Illinois and North Carolina, winners may claim anonymously if they have special circumstances that would make revealing their identities dangerous (e.g., a restraining order against someone).

In Florida, winners who work in law enforcement may remain anonymous.

by Anonymousreply 711/24/2012

Are you a tax attorney, r7?

by Anonymousreply 811/24/2012

^ Nope, I just Googled it.

by Anonymousreply 911/24/2012

Go to a good private banker associated with a good firm and find a good accountant- unless you already know a lot about investing and tax law and want to handle it yourself.

by Anonymousreply 1011/24/2012

Uh oh, I just lost the ticket. I've been hiding it in so many different places, under my pillow, in the cupboard, under the garbage can, that now I can't find it.

by Anonymousreply 1111/24/2012

I'd buy Lisa Vanderpump's old house. Then I could live acros from Miss Maloofs and make stink eye at her when she and Paul drove out the gate.

by Anonymousreply 1211/24/2012

I don't think it's an actual check; I'd expect the money would be transferred electronically.

by Anonymousreply 1311/24/2012
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