On February 14, 2023, California state lottery officials named the winner of the largest lottery prize in United States history: Edwin Castro won an eye-popping $2.04 billion in a November 2022 lottery drawing, choosing a lump sum payment of $997.6 million instead of annual payments over three decades.[1] A lottery...
Category: Lottery Winnings
What Is a Blind Trust?
Trusts are typically set up for the benefit of a trustmaker’s loved ones, a charitable organization, or a third party, with the trust money and property being distributed to the beneficiaries upon the trustmaker’s death. But there are situations in which a person may want to set up a trust to be...
Four Estate and Legacy Planning Tips for the Suddenly Wealthy
Suddenly coming into money can be both a blessing and a curse. Whether you just signed a multiyear, multimillion dollar employment contract, received a significant inheritance, expect a large check from a lawsuit verdict or divorce settlement, or just won the lottery,...