Be Careful What You Sign For!

It’s everyone’s dream to experience a huge lottery win, however, one New Hampshire woman known only as Jane Doe was permitted to receive her after-tax winnings of $264 million despite the fact that she had signed the back of her ticket which meant, under New Hampshire law, she had waived her right to anonymity. It is understandable as to why she would wish to maintain her anonymity. I mean, can you imagine the ‘creepy crawlies’ that would come out of the woodwork if they knew you had landed such unfathomable wealth?!

Currently going by the tile of ‘Jane Doe’, the New Hampshire woman won $559.7 million from the Jan. 6 Powerball.  Her massive after-tax winnings were $264 some million. However, whether she can maintain her anonymity remains in the hands of a judge.

The key is issue is that she signed her name on the back of the ticket after discovering that she had won. Signing the back of the ticket is pretty standard advice as it prevents someone else using your ticket to claim the prize should you somehow be separated from your ticket (yes I’d also be sleeping with one eye open!).

So, the question is, now that she has these winnings, what should she do with this money. Well, the majority of lottery winners will hire a financial adviser to help them navigate the myriad of investment options available to them. Getting hold of decent financial advice, at this stage, is not necessarily about focusing on investment return but is more about a need to get a rational and reasonable perspective on a huge amount of wealth that has literally dropped out of the sky.

If you’re a recent lottery winner, first of all congratulations! Once you’ve had chance to catch your breath, contact us for a initial discussion to understand how we may be able to help you navigate through this extraordinary time in your life.