Lottery winners - you have the winning ticket? Congratulations!
Whether you’re new to managing money or you’ve got years of experience, winning the lottery involves lots of changes. Our firm works with lottery winners to help them claim their prizes with a minimum of publicity, and then to manage it so that they get to enjoy it for years to come.
Your friends and neighbors don’t have to know, but you can’t hide from the Lottery Commission.
We believe that it’s your choice to decide who knows your personal financial business.
We work with lottery winners to claim their winnings with as little publicity as the law allows. Our clients’ names are not easily available to the general public, and their photographs do not appear on the Lottery Commission’s website..
You can take a lump sum, or you can get payments over 20 years. Either way, the Lottery Commission takes out the taxes first. If you choose the lump sum, it’s discounted to net present value, and then the taxes are taken out of the discounted amount. If you choose the 20-year payout, the taxes are taken out each year.
Which is the better choice?
The better choice is the one that suits you better, and we're here to help you decide.
Some people want the money now, and don’t mind the discount. To them, what they can do with the lump sum is worth more than the money they’d get over time.
For people who want to buy a house now, or make significant gifts now to their family or to charities, the lump sum is the way to go.
For people who would rather have a steady income for years to come, the payout over 20 years is the way to go. They also get 19 more bites at the tax apple than people who take the lump sum: they have a chance to rearrange their tax situations each year!
Our firm works with financial planners, tax preparers, accountants, life insurance agents and other allied professionals.
We will introduce you to these experienced professionals so you can assemble a team to advise you on managing your new windfall.
We put together an estate plan for you with a will, an estate planning trust, a special trust to claim the lottery prize, a durable power of attorney, a health care proxy and HIPAA authorization, and other documents depending on your circumstances.
We have a flat fee for specified services and maximum hours.
We advise you on options for prize payouts, and work with you to choose the best one for you.
We coordinate with other members of your team (and your family, if you like) to make the claims process as smooth and worry-free as possible. And we’re here for you in the years to come.
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