The Mega Millions was just at a $1.6 billion jackpot and though you did not win this time, you will want to heed this advice that most do not even know to exist for the next time you are feeling lucky…
As we all know, those who come into money attract not just national attention but also a lot of long lost family members and interesting characters who want a slice of the winnings.
The recent Mega Millions prize was the biggest it has ever been in the United States.
And to answer your question, yes — I did daydream with what I would have done with the money if I won, which would be to pay off student debt, buy a Tesla and then do this with my future retirement fund….
But back to reality.
A few financial experts have weighed in and advised that anyone who wins huge lottery prizes to do their best to remain under the radar.
Yet, interestingly enough: only a select number of states will allow winners to decide if they want to stay anonymous or not. Some states literally have a law that explicitly requires the lottery winners to be publically identified.
According to Maryland Lottery and Gaming, Delaware, Kansas, Maryland, North Dakota, Ohio, as well as South Carolina, are the only states that will actually allow lottery winners to remain anonymous, should the winners decide they do not want to disclose their sudden good fortune to the world.
Texan lottery winners are also able to have their good luck stay private as well.
While in Arizona, lottery winners of $600 or more can remain anonymous but only for 90 days after winning said prizes.
After the 90 days are up, the winners’ identities become part of the public record, which means the information about the winner as well as the prize is subject to a public records request.
But what does that mean exactly?
If someone wanted to know who won and how much they were awarded, they could find out.
And in Georgia, winners are able to decide if they want their identities released if the prize is bigger than $250,000.
But most states have laws which allow the lottery that sold the ticket to make who won, public.
Mega Millions and Powerball winners in Michigan are required to come forward publicly, but when it comes to the winners of other state lottery games, persons may remain anonymous if they so desire.
It should be noted that some states do allow winners to claim their prize through a trust to avoid publicity.
Though in states like Maryland, a lottery winner can choose to remain anonymous only if they don’t claim the prize through a trust….
And then to make matters even MORE complicated, New Hampshire requires winners to be public with their winnings BUT a judge in Concord, New Hampshire, recently allowed the winner of $560 Powerball jackpot to keep her identity private in March.
With all these rules and regulations, maybe it’s easier to just hypothesize about winning? Besides, you know what they say….
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