Let’s Say You Actually Won The $1 Billion Mega Millions Jackpot. Now What?

(This info could also apply to the RV of the Dinar)

Charlotte Observer  Evan Santiago  Thu, July 28, 2022

This Friday’s Mega Millions lottery drawing has garnered quite the buzz after no winner claimed the prize from Tuesday night’s drawing, with the nationwide jackpot now at $1.02 billion.

It’s an eye-opening amount of money that will undoubtedly change someone’s life forever. The largest jackpot won by a North Carolina resident was a $344 million Powerball jackpot in 2019.

So what is it like to be the one who beats the odds? Van Denton, director of communications at North Carolina Education Lottery, gave The Charlotte Observer a breakdown of what happens if you become a lucky winner.

What are the mechanics of collecting a major prize? When you walk through the door at lottery headquarters, what happens?

Denton: The very first thing after that moment of seeing your win is sign your ticket and secure it in a safe place. You have 180 days to claim your prize. Put together your plan for how you would like your life to change. Get a trusted legal adviser. Get a trusted financial adviser. When you are ready, call lottery headquarters and schedule the day you want to claim your $1 billion. We’ll help you with the planning.

When you arrive, you present your signed ticket. Our staff will verify who you are and that you indeed have the winning ticket. You’ll work out your prize, a $1 billion annuity paid out over 29 years, or (a) cash payment of $602.5 million.

You’ll learn about the mandatory tax withholdings, just like those done on your paycheck at work (at the minimum – withholdings of 24 percent federal and 4.99 percent (in) state). You work out the timing of the wire transfer to your bank, celebrate with lottery staff, and share your story of great luck. And then you’re off on a whole new chapter of your life.

When is the lottery winner revealed? Can that person remain anonymous?

To continue reading, please go to the original article here:

https://news.yahoo.com/let-actually-won-1-billion-110000210.html