Three weeks after someone hit the biggest Mega Millions jackpot in history, the winner has still not gone to claim…
Three weeks after someone hit the biggest Mega Millions jackpot in history, the winner has still not gone to claim his prize, according to South Carolina lottery officials – and there may be a strategy behind him.
“I’m not surprised at all that it takes some time to claim the price,” said Michael A. Silver, financial advisor for Morgan Stanley last week.
“You know, I think it’s a bit ironic . You think you win the $ 1.5 billion US $ lottery and you never have to worry about money again. But in contrast to your money worries only went up about 1000 times. “
The winning ticket sold in a KC Mart in South Carolina, the city of Simpsonville, is worth about $ US1
.5 billion ($ 2.05 billion) in annual interest rates over three decades, or a cash package of $ US877 million ($ 1.2 billion).
Winners have 180 days to go forward or April 21, according to WLTX, who first reported the news. If the ticket is not claimed in the allotted timeframe, the money will automatically be returned to the participating states. use this money for different purposes.
However, according to Silver, it’s likely that the victory takes the necessary time to gather a group of trusted financial and tax advisors, lawyers and publicity experts to help them navigate potentially turbulent water.
“Someone which comes in a billionaire immediately, they move into the realms of big money, “he said.” And it’s a scary and massive unknown. “
Together with the fall, tax-related k onset. Silver said that ticket holder probably hired a tax adviser to facilitate the IRS bit, detailed by Fox Business.
If the winner accepts the cash payment, the total rent would be approximately US $ 491.7 million (USD 671.8 million), after federal and state taxes – a 7 percent income tax in South Carolina, plus 37 percent federal tax rate. Apart from taxes, Silver also said that the victories take time to create a budget because their expenses also increase.
“Everyone assumes that it’s 100 percent a blessing and it’s just wonderful and everything will be fine, but there are many thoughts and preparations and plans that must handle increased prosperity,” he says.
Most experts stress that if the winner gets lucky and hits all six numbers – a 1 in 302 million chance – they should first and foremost keep the news to himself before hiring a trusted financial adviser to help you avoid the sudden pitfalls of almost instant wealth. 19659003] This article originally appeared on Fox News and was reproduced with permission