Mega Lottery Fever | Boston Herald



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In the absence of winners of the giant Mega Millions lottery jackpot on Friday night, the grand prize of the next draw on Tuesday will reach a record $ 1.6 billion, the lottery game announced yesterday.

"It's really amazing to think that the jackpot has reached a world record," said Mega Millions senior director Gordon Medenica in a statement yesterday. "It's hard to exaggerate how exciting it is – but now, it's really fun."

If a Hub resident wins the jackpot, here's what you should do, according to experts: First, a person who holds the winning ticket must "keep the ticket secure at all costs," said Michael Baker, lawyer specialized in lottery planning. Massachusetts.

"Then keep the information as secret and confidential as possible," Baker said. "Some of my clients do not want their neighbors or family members to know about the winnings."

Baker also recommends hiring a team consisting of an experienced lottery lawyer, a financial advisor, a tax attorney and an accountant. "There are 1.6 billion reasons for a team to work in your best interest," he said. "These planners can help prioritize the needs of a lottery winner and develop an investment plan."

Some people squandered their earnings or took out friends and family members to claim a piece of the pie, or put themselves under pressure from a financial windfall that they were not ready to manage.

"From my experience, most of my clients accept this one-time payment and use it smartly to invest in retirement or to buy a home," Baker said. "They are excited and incredulous."

The Massachusetts winners will find a way to preserve the identity of their identity when they claim their prize at the state lottery headquarters in Braintree, known as trusts.

"I would like to meet the customer and build trust," Baker said. The Massachusetts Lottery will then "take the social security number and last name of the winner for tax purposes. I set up an appointment to claim the ticket, I would open a bank account and transfer the money to the recipient the next day. "

According to the LendEDU.com consumer credit website, Americans spend an average of $ 223 a year on the lottery. Netizens, however, spent most of the country in lottery per capita, at 763 dollars a year, says the website.

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