Reynolds + Rowella

GET THE LATEST NEWS CLIENT ACCESSONLINE PAYMENT BLOGCOVID-19
  • About Us
  • Who We Are
    • Meet the Partners
    • Our Team
  • Consulting
  • Tax
  • Industries
  • Assurance
  • Culture
  • Careers
  • Contact

Lottery Dreaming?

January 13, 2016 by Reynolds & Rowella Leave a Comment

tdy_mor_powerball_150212
As the POWERBALL JACKPOT soars into the billions, many have started making plans for what they would do with the money if they were to win. While it might seem tempting to quit your job upon drawing the winning ticket, let’s look into what a potential lottery winner should consider initially doing:

1. Check the numbers two and three times to make sure it is all correct.

2. Sign the back of the lottery ticket, but make sure there is some room above it if you choose to create an LLC or Trust. A lottery ticket is considered a   bearer instrument so the person who signs the back will be the holder of the ticket.

3. Make a photocopy of it and hide the original in a safe place.  A safety deposit box at a bank is a good choice.

4. Go Anonymous. And stay low. Do not advertise that you are the winner.

5. Get Prepared. Hire lawyers, financial advisors and CPAs. They can help with your choices.

6. Plan a simple week trip away from home after the press conference.  This will help with your privacy.

Read about and learn from the past mistakes of others and keep family and friends at arm’s length. It’s important that you make wise decisions and avoid getting too carried away.

ONCE YOU HAVE A GOOD PLAN IN PLACE TO ENSURE YOUR FUTURE,
RELAX AND ENJOY YOURSELF!

Filed Under: Uncategorized

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Receive Our Blog Updates by Email

Recent Posts

  • U.S. GAAP Accounting for PPP Loans
  • What Employers Should Know About the COVID Vaccine
  • Five tips to lower your tax liability
  • Are You Taking Advantage of Valuable Tax Credits?
  • Virtual Currencies & US tax and financial account reporting

Contact Us

  • This field is for validation purposes and should be left unchanged.
  • About Us
  • Meet the Partners
  • Our Team
  • Consulting
  • Tax
  • Industries
  • Assurance
  • Culture
  • Careers
  • Blog
  • Contact

where to find us and how to call us

90 Grove Street / Ridgefield, CT 06877 / Office: 203.438.0161 / Fax: 203.431.3570
51 Locust Avenue / New Canaan, CT 06840 / Office: 203.972.5191
© 2021 Reynolds + Rowella. LLP
follow us on twitter follow us on facebook follow us on linkedin
Website Design: Wieting Design
  • About Us
  • Who We Are
    ▼
    • Meet the Partners
    • Our Team
  • Consulting
  • Tax
  • Industries
  • Assurance
  • Culture
  • Careers
  • Contact