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chyna's avatar

The Mega Millions drawing is almost a billion dollars tonight. How do I choose a good, honest financial lawyer, just in case I win?

Asked by chyna (42113points) 1 month ago from iPhone

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57 Answers

kritiper's avatar

Check with your local Better Business Bureau, if you have one.

elbanditoroso's avatar

Not sure there is such a thing as a good honest financial lawyer.

However, someone familiar with setting up trusts and doing tax planning is going to be more useful than anything else.

Should I buy a ticket?

chyna's avatar

No need to buy a ticket since I have the winner!

rebbel's avatar

Check out Bob Loblaw Law Blog
And, good luck.
My friend ~

Dutchess_III's avatar

She is like a sister to me @rebbel, so back off!!

rebbel's avatar

There’s enough for the three of us ~

zenvelo's avatar

With that level of winning, best to bifurcate your service needs. Have a lawyer on retainer (usually from a big firm) that can handle trusts and wills and pllanning, but have an accountant that is separate to keep tarck of your money and do the numbers on your tax planning.

And, line them up before you go to the lotto officals and claim your winnings.

Dutchess_III's avatar

Where on earth would they even PUT so much money? What kind of bank? What kind of account?

zenvelo's avatar

@Dutchess_III You go to the US Treasury and buy $900 million worth of US 13 week bills. The rest you keep in your bank as “pocket money”.

ragingloli's avatar

You are not going to win.

LadyMarissa's avatar

FYI…you don’t need a financial lawyer!!! Now days most decent accountants have a Financial Planner on their staff. Not only can they do your taxes, they can set up an estate plan that can make even the pickiest relative happy!!! Rather than hiring one BEFORE you win, I suggest that you WAIT until you’re holding the winning ticket in your hand & hire the FP even BEFORE you go to cash in your ticket. In some instances, you’ll need to set up an LLC in which to place your windfall. That’s why it takes so long for some winners to come forward. Then afterwards, trust NO ONE…NOT even family!!! Your closest family member may well try to off you so they can inherit your windfall. IF you live in a state where you DON’T have to announce your name to the press, I suggest you keep it PERSONAL & PRIVATE!!!

Dutchess_III's avatar

Cash it and put it in a pickle jar and bury it in the back yard.

ARE_you_kidding_me's avatar

Have the lawyer you choose set up a trust and have the trust claim the ticket. Don’t tell anyone, ever.

Dutchess_III's avatar

That’s what I’ve heard. Don’t tell anyone. However, I bet my greedy younger sister and I could begin to have a relationship again, after 20 years.

LadyMarissa's avatar

^ I can pretty much guarantee that your younger sister will become your BEST friend!!! She might also try to kill you so she can inherit your money sooner rather than later. The LAST person I’d inform is my brother who can’t even be civil while I’m broke; so, I plan on having NO use for him even IF I’m rich!!!

SergeantQueen's avatar

“Honest Lawyer”... Oxymoron?

Dutchess_III's avatar

Snort. What makes you think I’d have her listed as a beneficiary @LadyMarissa.

canidmajor's avatar

I have people, @chyna, I’ll let them know to expect your call. :-)

LadyMarissa's avatar

@Dutchess_III You wouldn’t have to list her as a beneficiary for her to contest your will & demand her portion as a surviving relative who loved you dearly!!!

Dutchess_III's avatar

She would have to get in line behind my husband, 3 kids and 10 grandkids. They all know exactly how I would feel about her getting any of my money…and they’d have the money to fight her. Hell. Now that you mention it, I’ll specifically disclude her from the will!

Inspired_2write's avatar

The Lottery has its own Professional advisers that are trained for this ,on staff to counsel winners as it comes as a shock to most.
They also do not give all that money at once, usually monthly or annually payments, that way the Lottery foundation gets the interest.

Dutchess_III's avatar

My cousin got all the money at once, less about 30% in taxes.

LadyMarissa's avatar

@Dutchess_III I think that in order to be sure, you should include her in your will by leaving her $1.00 so she can’t even suggest that you forgot to add her. I think it was Groucho Marx who had nasty children & he left each of them $1.00 with a notation that IF any of them decided to contest his will that they would be removed completely as a beneficiary & would lose EVERYTHING!!!

Tropical_Willie's avatar

Get a lawyer! Get one that has done lottery winners before.
In my state you can request an “Alternate ID” or false name, SSN is still needed to get a 1099 but with new ID.

Get sunglasses and a wig to collect.

Collect all the money at once, if you leave the annual payments to heirs they will be required to pay upfront applicable tax to receive the money.

chyna's avatar

And possibly kill me.

janbb's avatar

@chyna You do know you’re my BFF, don’t you?

chyna's avatar

I’m sure I’ll have plenty.

canidmajor's avatar

I’ll send you a nice card if when you win.

janbb's avatar

I’ll bake you brownies, much nicer than a card. ^^

canidmajor's avatar

well, I’ve been watching The Great British Baking Show, so it’s on, @janbb! ;-)

Dutchess_III's avatar

Pretty sure we are related @chyna. I mean, we may have to go all the way back to Africa to find it, but it’s there.

janbb's avatar

^^ @Dutchess_III is running for her 23andme.com test!

Tropical_Willie's avatar

It just went past 1 Billion at 5 PM EDT 10/19/2018.

kritiper's avatar

After you find the lawyer, find a good investment councilor.

Dutchess_III's avatar

I gots me 2 tickets…..

chyna's avatar

I’m sure we’re related!

janbb's avatar

@chyna Don’t you want to wait and see if she wins?

Dutchess_III's avatar

That would be too obvious, @janbb. You gotta be subtle, like me.

Dutchess_III's avatar

I actually did a thing through Ancestry.com @janbb, when they had it on sale for $60. They were the most boring results ever! Except it did show that Chyna and I ARE related.

janbb's avatar

@Dutchess_III But my brownies are on their way to her right now!

Dutchess_III's avatar

….She’s allergic to chocolate. Didn’t you know that? If you were her real sister you would know that. I call charlatan!

janbb's avatar

^^ Oh – I forgot to mention, these are blondies!

gorillapaws's avatar

Pick a random name out of the phonebook, the odds that she’s an honest financial lawyer is infinitely more likely than winning the lottery…

LadyMarissa's avatar

Be really careful @chyna…Anytime I say I’ve bought a ticket, my BFF tells me that “I’m WASTING my money” followed by “You do know that I’m your BFF don’t you?” There was 1 winner who received $16 mil & his brother tried to kill him because the brother was too greedy to wait until he died!!!

zenvelo's avatar

With the next drawing up to 1.6 Billion, find a reputable corporate attorney, the find a second one to keep an eye on the first one.

Dutchess_III's avatar

^^^^^ So no one won yesterday?

zenvelo's avatar

^^^^^^Right, no one had all the numbers. Someone here in the SF Bay Area had 5 of 6.

ragingloli's avatar

Someone might have had 5 of 6, but Star Trek has 7 of 9.

Dutchess_III's avatar

Or maybe they just haven’t turned the winning ticket in yet? Maybe it’s just hanging out in my cell phone wallet case unclaimed?

canidmajor's avatar

They keep track of which numbers have been used.

Dutchess_III's avatar

:( Well. That means @chyna didn’t win. It’s OK. I never liked her anyway.
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I AM KIDDING! I LOVE CHYNA!

janbb's avatar

@chyna Can you send back the blondies please?

LadyMarissa's avatar

@chyna Unlike @Dutchess_III I’ll love you rich or poor!!! Actually, I prefer my poorest friends because they are the MOST REAL!!!

canidmajor's avatar

Well, @LadyMarissa, I’m sure glad that you and I aren’t friends, then. ;-)

chyna's avatar

But wait! I have another chance Tuesday so I’m keeping the blondies.
And @Dutchess, you do to like me!

Dutchess_III's avatar

Oh! Why, yes. Yes I do like you! You are my favorite Jelly! And I am sending some Stroopwafels your way.

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