Lottery Lawyer helps to dispose with prize. Part 2
5. Assemble a team of financial and legal experts.
After winning the lottery, it is very difficult to understand who says the right things, and who really needs help. It is best for the winner to assemble a team of various experts. This could be a lawyer, investment expert and an accountant. Now they can decide how you use your winnings. It is very important that they work together for your success. But before you trust each of them his plans, ensure their competence and check license. Examine carefully whether kake a complaint or claim to these people and to the quality of their work. Protect yourself at once, so that later you do not lose your money.
If you live in a small town and do not want to hire a lawyer out there, because I do not want to be recognized, that is another option. Refer to the nearest major city, and type the command there. Examine the list of experienced professionals; please visit Martindale.com, there is the catalog of experienced consultants in various fields of knowledge. Also in the internet you can find a group of lawyers for the trust or estate.
When you build your team, it will work for you as a board of directors. They will help you to create a financial plan and argue its pros and cons. You’ll be sure that you want to spend the money properly, and your every dollar will be registered. You can create a group of “bad guy” that he denied every decision, thus you will see the situation more accurately the costs.
Read the First part HERE!
6. Invest wisely.
Experts recommend putting all your money in a safe place and do not touch their half of the year. So you will have time to rest after winning and think how you want to spend the money. It is best to ask your team of experts to share the money. In this case, the money will lie for investments, and the other part will be for your personal needs. Try not to put money into the business that you do not understand. Do not do it even if it sounds very good.
7. Live as part of its former budget.
Try not to go beyond your usual life. If you are not accustomed to the big money, then you can not waste money. This is a good way to not spend money on unnecessary things. As a lawyer in Virginia said, one thinks that everywhere there are many ways to invest money. He starts trying to invest in one thing, but it burns. Then the man did not give up and invest elsewhere. This happens while the person is left without any money.
8. Take all necessary measures to protect their money.
Lottery winners often lose a lot of money due to creditors. Most people see your victory and want to get the money. To do this, they give you to court; it may be unhappy people, or even family members. It is better to protect your money, because in most cases courts win and you have to share your money.
The best way to hide your money is to keep them by a strategy for asset protection. You can consult with your team of experts and they will tell how best to protect the money through the law. That way your money has a barrier through public funds or family partnerships. You can also create your supposedly LLC. Different strategies are great on their own or combined with each other.
9. Make a plan with charitable contributions.
Additional income from your winnings, you can compensate for a charitable deduction. However, the donation must be made before December 31,
There is a law that gifts to charitable organizations and donors pay tax on lottery will be 50%. If there are other contributions to donations of other organizations is assessable from the tax is deducted by 30%. This system is temporary and only works for 12 months after receiving the money.
If you have not decided where you want to make a donation, you can take help support. They will tell you where the most need for money is and then you can make a useful contribution. This year’s federal tax changes are expected, so go back to the top step when it is necessary to carefully read the terms of taxes. It is best to pay the tax otherwise then you are concerned about the constant requests.
10. Make a careful review of your property.
If you’ve got a very big win, you automatically get a tax on real estate. In 2012, a law was passed that if a person has 5.44 million dollars, then you have a specific tax system. If you want to give part of the money to family or friends, try to make it faster. To find out more information about this, read “6 Ways to Give Family and Friends Financial Aid”.