I doubt that will ever happen, considering I never play the lottery - but it's fun to speculate nonetheless. So, here goes.
Recently, a Georgia couple were surprised to discover their lottery ticket suddenly skyrocketed in value to $275 million. Like most lottery winners, they showed up at the lottery HQ and took pictures next to piles of fake cash holding up a huge check. It's ironic that most people think the tough question is whether to take the lump sum of almost half the winnings or accept annuitized payments of about $10 million for the next 25 years. They already answered the tougher question, that being "what should you do once you find out you've won the lottery", and I would say that they have made a poor choice in their actions.
"How dare you judge them!" On the contrary - how dare I
not judge their actions? If I'm to learn anything, I'm to learn it from either a. the Lord (in one way or another) b. other people's mistakes/successes c. my own mistakes/successes. This I count as one of those life's lessons so many others have taught through their own actions usually leading to more unsavory circumstances.
So, if I won the lottery, here's what I'd do.
1. Tell NO ONE. I doubt I would even tell my wife for a few days, if she didn't already know. But besides Rachel, no one would have a clue - for a long, long time.
2. Lock up the ticket. Before putting the ticket in a safe deposit box, I'd go to a Kinko's and make 10 copies of the ticket - being sure to also make copies of a blank sheet of paper, after copying the ticket, to empty the copy machine's memory. Then I'd put the ticket and all but one copy in a safe deposit box.
3. Wait. I'd start writing down questions - lots of questions. Mostly I'd write down the legal and financial questions that would need to be answered before I moved on to try and get the questions answered. There will be a lot of them, so it's important I take notes and keep the notes secured.
4. Meet with an attorney. Attorneys have confidentiality with their clients and should be able to represent me anonymously to the lottery commission. I'd be sure to find an attorney who is not a family member or friend. I'll have to pay him/her, but I'm not worried about that - remember, I just won the lottery. I'd take a copy of the ticket with me for proof.
5. Establish a trust or similar vehicle that can help cloak my identity to receive the winnings. Oh, and I'd take the lump sum. In the end, I don't know where taxes are going, but I do have a pretty good guess as to where most investments are going (ironic; that's another conversation).
6. Do nothing. I'd wait a long time (in lottery winner's terms) before I did anything. I doubt I'd touch a penny of it for at least three months - maybe longer. When I did touch it, most of it would be invested; some would be spent - on things that are needed like home or vehicle repairs, college tuition, etc. I'd try my darnedest to live just like we've been living - same home, same job, same everything for a long time. Remember, the biggest enemy to a lottery winner is other people who know. As long as family, friends and strangers are completely unaware - relationships will be maintained and my family will feel safe going to sleep at night.
Anyway, that's my plan, though I doubt I'll ever need to employ it. I got a lot of good advice from this great article in the
Atlanta Journal Constitution, I'd recommend reading it if you happen to have recently won millions! God bless!