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Lottery winners can make a gift of their winnings, up to the annual exclusion limit, without incurring gift tax liability.It's not iron-clad, but it's a good way to make sure your money isn't just wasted or sitting there "not working for you".Do I get internet connection issues often?Making gift donations to charities is a boon when filing for taxes.Holding the lottery winnings in a trust has some tax advantages because it avoids probate of the lottery proceeds upon death of the winner and minimizes taxes on the estate.
Of course you want to donate the gift to a charity with a proven track record to be sure the money is going to the right cause.
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Contacting the media at all is a bad idea.
You know that saying, "You need money in order to make money." Well, that statement still applies.An attorney will likely charge a lottery winner the same fee s/he would charge any other client.Okay #10006, part 1 What to do straight after you've won 1, try to keep quiet.Don't be impulsive or buy things you don't need.Ask to speak with current or former clients.Remember that your family can help you.Have the charity sign a confidentiality agreement.Do pay off your loans.6 Look at gifting money to family and friends.6 Buy everything with a rewards-based credit card and pay it off monthly from your checking account.