why and what kind of lawer do i need after a large lottery win?

Answer 1

You don't need a lawyer. You may benefit from consulting with a tax accountant so you pay as little as legally possible in taxes on your winnings.

Answer 2

If you win a large lottery, you really need a whole team of advisors (at least in the beginning), and you should line them up BEFORE you claim the ticket. These people will help you map out your plan for the money, advise you on how you can save big money on taxes, help you deal with any issues that could hurt you (back taxes owed, vindictive ex-spouses, lawsuits, etc.), and just make your life a lot saner and easier. Plenty of studies have shown that people who don't plan properly end up bankrupt in as little as five years after winning even huge amounts. Don't let that happen to you. Get yourself these people (again, if only for the first few months):

1. A good estate or tax attorney
2. A good financial planner/advisor
3. A good accountant
4. Possibly a good personal assistant, if you don't want to deal with stuff like getting a new phone number, handling solicitations, scheduling appointments, etc., yourself
5. Possibly a bodyguard, depending on your personal circumstances and relationships (for example, I live in a drug-infested rural area. You bet if I won the lottery I'd have round the clock bodyguards until I could move myself and my animals out of here.)

Answer 3

You need a tax lawyer (pick one who already has lots & lots of "high net worth" customers, so you don't become his or her "meal ticket"!) and you also need to find a financial advisor you can trust. (The best way to do this is to call a series of advisors and tell them you have "almost $4,000 you'd like to invest for your retirement", only the 'decent' ones will offer to help!)

The reason you need these two people is because lottery winnings are always "public knowledge", and you are about to discover friends and relatives you had NO idea you had! Unless you won (and sometimes even IF you won) many hundreds of millions, money will not go as far as you might think!

Congratulations, and good luck!

Answer 4

A tax attorney who can set up a "spend thrift" trust or some similar arrnagement. Have a diverse portfolio (depending on your age) of stocks, bonds, and real estate, and consider some long-term care insurance (because an extended disability is one of the few ways to have you become separated from your money involuntarily - no need to purchase this untiol you are 50 or so as long as you are healthy).

Answer 5

You will need a lawyer that specializes in finance. The reason you want one it to assist you with making wise financial decisions, and it may be possible to claim the prize anonymously, which would prevent a GREAT amount of calls from charities and new long,lost relatives.

Answer 6

Did you win a lottery in another country that you've never heard of before? Because that would be a scam.

Answer 7

You need an estate and financial planning attorney. But you also need a very good certified public account to help you with everything.

Answer 8

You don't need a lawyer so much as a financial planner (CFP - certified financial planner) or money manager. Check the "Financial Planner" listings in your phone book for one that specializes in "sudden wealth."

Answer 9

You don't need a lawyer, just spend it wisely by making good investments and while you're at it can you help me with a $8,000.00 loan because I keep running into scam artists, if so, email me.

Answer 10

A trust and estates/tax attorney. You want to structure a big windfall so that you get to keep as much of it as possible.