business insider what you should do if you win the lottery hire attorney

Financial adviser Robert Pagliarini told Business Insider that taking "a very deep breath" should be the first step if you win such a high-priced jackpot. 8/54 Source: Business Insider Then, hiring an attorney, a tax specialist, and a financial adviser should be your next priority.

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What kind of lawyer should you hire after winning the lottery?

Aug 23, 2017 · Don't even declare yourself as the winner. Tell no one — resist from texting or calling a single person you know. First up: Hire a lawyer After you've regained composure and made sure not to spill...

How should I handle my lottery winnings?

Jul 06, 2016 · The very first thing you should do if you win the $508 million lottery. Kim Renfro ... the next item on your to-do list is hire a lawyer. ... Kim is …

Who should I hire to validate my lottery ticket?

Jan 12, 2016 · Business Insider reached out to Cuban to ask about his tips for potential lottery winners, and he shared the advice he gave his local paper, the Dallas Morning News: [The first thing you should do...

Who is the go-to attorney for lottery winners?

Jun 03, 2021 · You'll also want to hire an accountant, because taxes on lottery winnings can be a big surprise. Read more stories from Personal Finance Insider. Get the latest tips you need to manage your money ...

First up: Hire a lawyer

After you've regained composure and made sure not to spill the beans, the next item on your to-do list is hire a lawyer. "Get a partner from a larger, NATIONAL firm," Reddit user BlakeClass says. "Don't let them pawn off junior partners or associates on you.

Step two? Claim the winnings and take the lump sum

The lottery allows winners to choose either a large, one-time payment upfront, or a lifetime of smaller annuities. According to BlakeClass, winners should accept that they're going to take a hit of at least 50% of the total jackpot in taxes, but this is the best way to go.

Here's the email Pete Buttigieg sent about Afghanistan and his babies

Kim is an entertainment correspondent for Insider.

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How much is the Powerball lottery?

The Powerball lottery has reached a record high of $1.5 billion. On Wednesday night, someone might win the jackpot and — even if they don't actually take home $1.5 billion — become incredibly rich in a matter of moments. Billionaire Mark Cuban has some idea of what that's like.

Who is Libby Kane?

Libby Kane, CFEI, is the Executive Editor for Personal Finance Insider, Insider's personal finance section that incorporates affiliate and commerce partnerships into the news, insights, and advice about... Read More.

What to do if you win the lottery?

If you win, don't tell anyone, says a financial planner. Then hire someone to help manage the money. You'll also want to hire an accountant, because taxes on lottery winnings can be a big surprise. Read more stories from Personal Finance Insider.

What states have a lotteries?

From California to Ohio to Maryland to New York, states all over the US have announced "vaccine lotteries" to incentivize residents to get their shots. The basic idea is: get vaccinated, get entered to win, and cross your fingers that you're a lucky winner.

Why do you need a lawyer for lottery winnings?

Some of the benefits of hiring a lottery lawyer are: They can help you keep as much of your winnings as you legally can. They can help protect your identity. They can introduce you to the right people. They can set up your estate for your family's future.

What to do if you win the lottery?

If you won the lottery, the first person you want to hire: an attorney. That’s right, just one. It’s true that you’re going to need all sorts of lawyers who specialize in taxes, trusts, estates, and the like. But, you don’t really need to hire an entire cavalcade immediately.

Who is Jason Kurland?

Billed as the “go-to attorney for jackpot winners,” Jason Kurland is often called upon by the national media for lottery commentaries. Whenever jackpots reach record highs, expect him to give his 2 cents. Kurland has also represented some of the biggest winners in recent lottery history, including:

What is a good lottery lawyer?

They can protect you from potential lawsuits and counsel you in such events. A good lottery lawyer will help you find legal ways of minimizing your tax liability. They'll also be able to assist you in setting up a trust or other legal entity to claim your winnings, if you need to.

Who won the 2011 Powerball?

Kurland has also represented some of the biggest winners in recent lottery history, including: Putnam Avenue Family Trust: Also known as the winner of the $254 million Powerball jackpot of November 2011. Rainbow Sherbert Trust: Also known as the winner of the $336 million Powerball jackpot of March 2012.

Who is Walt Blenner?

Walt Blenner. Walt Blenner (inset) and client Shane Missler. Practicing out of Tampa Bay, Walt Blenner is a personal injury lawyer who also dabbles in estate planning. And yes, he also represents lottery winners.

Why do you need a trusted adviser?

That's why you'll need a capable and trustworthy adviser guiding you from day one. They'll help you make tough decisions you've likely never had to face before.

How many states allow anonymous lottery winners?

Powerball tickets are sold in 44 states, as well as in Washington, D.C., the U.S. Virgin Islands and Puerto Rico. As of last time we looked, all but six states require lottery winners to come forward publicly. Delaware, Kansas, Maryland, North Dakota, Ohio and South Carolina allow winners to remain anonymous. Many other states are in the process of enacting such laws- some may even require you to donate some money to charity if you want to remain anonymous. Other states permit winners to create limited liability companies, so that when their names have to be announced, it’s the companies and not individuals that are identified. Think seriously about that.

What is lottery ticket?

A lottery ticket is a bearer instrument. The person who holds it holds its title. That means possession is often the primary consideration. Although disputes can happen and custody can be disputed, whoever signs the ticket and presents a photo ID can claim the prize.

What to do after lottery win?

3 People You Must Hire After a Lottery Win 1 The Attorney. This is the first person to hire. An attorney can help you keep the ticket safe until you have your team in place to help you handle your winnings. An attorney may advise you to set up a trust and transfer “ownership" of the ticket to the trust, for which you are the sole trustee. You’ll still receive your winnings, but the trust can save you on taxes. 2 The Financial Advisor. This person will help you set up accounts that keep your money growing in order to guarantee a safe income for you throughout your lifetime. A financial advisor will also investigate any financial investment requests that you will receive from family, friends or people you’ve never heard of, but who will assure you that you can make millions more with their method or product. 3 Accountant. This person will handle all the tax matters and keep you out of trouble with the IRS. After the government takes their initial cut, there are still more taxes to pay.

What is the number to call for California pensions?

California Pensions, incorporated since 1968, designs and administers financial plans for professionals. Call 310-400-5571 or email [email protected] today to set up your appointment.

What does a financial advisor do?

A financial advisor will also investigate any financial investment requests that you will receive from family, friends or people you’ve never heard of, but who will assure you that you can make millions more with their method or product. Accountant.