You may have just won the lottery, but it’s not time to cash in just yet. It’s important to build your financial dream team before taking your first steps. These experts will handle the massive sums of money you’ve won, including an estate planning lawyer, certified public accountant, and private banker. You’ll also want to consult an insurance expert. Here are a few tips to keep in mind as you build your team.
Annuities are another way to manage your windfall. Unlike lottery winnings, annuities are spread over several years, allowing you to receive payments over many years instead of all at once. While a lump sum payment is less than the jackpot, it’s an excellent option if you’d like to avoid paying taxes on it all at once. You can invest the money you won in the meantime to gain even more money. Annuities vary in payout ratios, so you should shop around to get the best deal.
The winnings can help fund promising research into Alzheimer’s disease. The money raised will help fund research into treatments and a cure. The Kuteys donated the equipment and the installation materials to build the park. The couple moved to Florida and displayed their Disney collection to friends and family. They also donated their $19 million after taxes. It’s clear that the Kuteys’ newfound wealth is well spent. This incredible story is the inspiration behind the foundation.