Quote:
Originally Posted by SHIBUMI
Hopefully someone in the Villages wins! But what to do.......
1. take lump sum or 30 year payments, lump sum after taxes less than 50%
2. 30 year payments get 5% interest a year
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I have 2 friends who have won over $50M.
You take it in a lump sum, every financial advisor will tell you that.
You don't take it in your own name, you take it in pass through entity that doesn't have tax liability until distribution. 1000's of lottery winners "split" their lottery take.