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So you just checked and fuck me I just won the lottery! NOW WHAT!
Won a lottery, here is the advice I am going to give you as a Canadian:
1. Tell nobody at first, need to know basis and sign the fucking ticket and zerox it then secure it.
2. Arrange with bank of your choice and set up a TRUST account to where the money is going to be deposited. Make sure the Bank is aware your talking HIGH INCOME CUSTOMER, service is quite different. See below on recommendations of how this money be set up temporarily until you have a LONG TERM PLAN and budget worked out.
3. Change your already unlisted phone number
4. Claim prize, deposit into Trust account and get it working for you right away until you decide long term plans. . Until that is all set up decide on the number for fun go nuts money and put the rest into short term 60 - 90 day investment certificates giving you breathing room. Make available fun, go nuts money for sure but your eventually going to have three things, first one will be spend budget, second one will be save budget and third will be investment portfolio.
5. Start getting in place for yourself the following three professionals (Can be done within the first 60 days):
a. Lawyer who specializes in Trusts, Wills
b. Accountant
c. Financial Advisor
They should come from a large reputable firm (Clarkson and Gordon for example) unless you know someone personally and trust them. TRUST is paramount.
Make sure you can trust them, ask for their previous customer references and check them out, ask up front ALL fees and annual costs etc.... Lawyer is going to set up the trust accounts correctly so there is no complications or surprises also do your will! Accountant self explanatory, he is going to protect your winnings from the TAXMAN as much as possible, Financial Advisor is going to do what his title says, help you set up three budgets and run buffer to people begging for money etc... including family and assist you in understanding investments, but not selling investments to you themselves.
5. So you got your prize, debts are paid off, new car, house, vacationed for 60 days, spoke with your advisors etc..... now deal with family. Set limits or they will spend you into the poor house, your going to get some cursing you but too bad. Buffer with your financial advisor these requests.
6. If you have kids, don't spoil them with wealth, make them earn every penny (respect money) of what they get and set it all up in trusts!
7. If your LEGALLY separated or divorced by a court the ex doesn't deserve anything whatsoever otherwise your ex is entitled to 50% of the winnings. Speak to your lawyer about negotiating this area especially if there is child support happening still and those kids are under 25 years old, living at home and attending full time studies. IF your married happily I would still recommend give your spouse 50% straight up (is legally entitled to it) regardless if they say NO you can handle it for us both! Money changes people, a lot of money changes them even more. Don't screw yourself up in this area with greed and revenge.
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I would do all this and more like quit my job (multiple millions as 1 million isn't going to do it, think about old age here, maybe a leave of absence without pay), pay the mortgage off, debts zeroed, rent various vehicles till I found the one(s) I like enough and lease, get my fun money out and travel to a hot sunny island and take time as much as I need to think about what I am going to do. Stop thinking SHORT TERM and start thinking LONG TERM plans. During that vacation and when your ready start reconnecting with people (family then friends) you want to remain in my life as my inner circle and take care of them, inviting some to perhaps come to where I am on my tab and help them as I see fit. Eventually return home, and start meetings with the various professionals I hire and get everything setup proper to ensure I remain solvent for the rest of my natural life. I could go on and on with advice about overnight riches but know this it is very easier to lose it all overnight (many have) if you do not get your head right and get tight control over everything from the onset! It will really be an emotional ride in the beginning for you. But for your sake enjoy that fun money and treat yourself right.
It worked perfect for a friend, won multiple millions on a lottery in Canada, did it just like as described above. By the way investment in COMMERCIAL property is very lucrative and safe.
1. Tell nobody at first, need to know basis and sign the fucking ticket and zerox it then secure it.
2. Arrange with bank of your choice and set up a TRUST account to where the money is going to be deposited. Make sure the Bank is aware your talking HIGH INCOME CUSTOMER, service is quite different. See below on recommendations of how this money be set up temporarily until you have a LONG TERM PLAN and budget worked out.
3. Change your already unlisted phone number
4. Claim prize, deposit into Trust account and get it working for you right away until you decide long term plans. . Until that is all set up decide on the number for fun go nuts money and put the rest into short term 60 - 90 day investment certificates giving you breathing room. Make available fun, go nuts money for sure but your eventually going to have three things, first one will be spend budget, second one will be save budget and third will be investment portfolio.
5. Start getting in place for yourself the following three professionals (Can be done within the first 60 days):
a. Lawyer who specializes in Trusts, Wills
b. Accountant
c. Financial Advisor
They should come from a large reputable firm (Clarkson and Gordon for example) unless you know someone personally and trust them. TRUST is paramount.
Make sure you can trust them, ask for their previous customer references and check them out, ask up front ALL fees and annual costs etc.... Lawyer is going to set up the trust accounts correctly so there is no complications or surprises also do your will! Accountant self explanatory, he is going to protect your winnings from the TAXMAN as much as possible, Financial Advisor is going to do what his title says, help you set up three budgets and run buffer to people begging for money etc... including family and assist you in understanding investments, but not selling investments to you themselves.
5. So you got your prize, debts are paid off, new car, house, vacationed for 60 days, spoke with your advisors etc..... now deal with family. Set limits or they will spend you into the poor house, your going to get some cursing you but too bad. Buffer with your financial advisor these requests.
6. If you have kids, don't spoil them with wealth, make them earn every penny (respect money) of what they get and set it all up in trusts!
7. If your LEGALLY separated or divorced by a court the ex doesn't deserve anything whatsoever otherwise your ex is entitled to 50% of the winnings. Speak to your lawyer about negotiating this area especially if there is child support happening still and those kids are under 25 years old, living at home and attending full time studies. IF your married happily I would still recommend give your spouse 50% straight up (is legally entitled to it) regardless if they say NO you can handle it for us both! Money changes people, a lot of money changes them even more. Don't screw yourself up in this area with greed and revenge.
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I would do all this and more like quit my job (multiple millions as 1 million isn't going to do it, think about old age here, maybe a leave of absence without pay), pay the mortgage off, debts zeroed, rent various vehicles till I found the one(s) I like enough and lease, get my fun money out and travel to a hot sunny island and take time as much as I need to think about what I am going to do. Stop thinking SHORT TERM and start thinking LONG TERM plans. During that vacation and when your ready start reconnecting with people (family then friends) you want to remain in my life as my inner circle and take care of them, inviting some to perhaps come to where I am on my tab and help them as I see fit. Eventually return home, and start meetings with the various professionals I hire and get everything setup proper to ensure I remain solvent for the rest of my natural life. I could go on and on with advice about overnight riches but know this it is very easier to lose it all overnight (many have) if you do not get your head right and get tight control over everything from the onset! It will really be an emotional ride in the beginning for you. But for your sake enjoy that fun money and treat yourself right.
It worked perfect for a friend, won multiple millions on a lottery in Canada, did it just like as described above. By the way investment in COMMERCIAL property is very lucrative and safe.
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