Hitting a lottery jackpot is like a surreal dream come true. As it involves a huge sum of money, it changes the destiny of a person instantly. While you will obviously be on cloud nine taking your own time to digest all the happiness and euphoria, the best advice to all the jackpot winners is to call your lawyer first.
You can hit the jackpot by either buying a paper ticket or playing through online platforms like Lottoland that allow you to play all international lotteries from the confines of your home or offices. The first step in each of these two options should be to hire an attorney and a financial adviser. This is important because of the substantial amount of money involved. You first need to pay taxes on it depending upon the tax implications of the area you reside in. Then, you will need advice on protecting your remaining winnings and investing it such that you benefit the most out of it.
It is one of the luckiest breaks of your life, which all lottery players aspire for and you might be having some celebration plans of your own. This includes going on a world tour with your loved ones or buying some luxurious things you always dreamt of. While you have full right to celebrate your win, hiring the lawyer will help you celebrate without wasting it. So, before shouting at the top of your voice and announcing to the world that you are a millionaire now, just call your attorney first.
Here’s how hiring a lawyer who is well-versed in financial planning and tax laws helps, but before that sign your winning ticket because it is like a bearer instrument. It means if you lost it without signing, anyone who gets it can sign and claim the prize.
Gives You the Right Advice
An attorney or a lawyer is experienced in handling such things and are aware of the tax laws prevailing in the country. They give you the right advice and help you pay your taxes in accordance with the law so that you don’t get into any trouble in the future.
Helps in Preserving Your Anonymity
It is always advised to keep a low profile after a big win else you will be surrounded by all sorts of friends and distant relatives eager to get a pie from your win. It also attracts the attention of thieves and conmen. The attorney can help you with setting up a trust or some other option to keep your name from coming out in public and garnering the unnecessary attention of the wrong people.
Suggest Better Strategy
Instead of going for impulsive buys like owning an island or a jet ski with your winnings, an attorney can suggest better investment plans that will help in growing the money further. They can help with a concrete future plan that will help you and your loved ones to live comfortably on it for long.
Take Complete Benefit of Time
There is some specified time interval lasting to a few months before you need to claim your prize money. Instead of being in a hurry to claim, it’s better to get all affairs in order with the help of an attorney. Once the strategy is in place, you can then go and claim your money and act accordingly without making a mess out of the situation. As time passes by, the euphoria also settles, and one is more capable of making rational decisions.
Thus, if you are the lucky one who has defeated all odds and won the jackpot prize, act rationally and hire a good lawyer first before breaking the news to anyone else.