$1.6 Billion Mega Millions Jackpot-What Happens if You Win?
The odds are against us-one in 302.5 million. It's terrible odds but someone is eventually going to match all six numbers and win the jackpot. What would you do if you win?
We would have many questions if we held the winninig ticket to the largest lottery jackpot in U.S. history. Maybe some of these answers will help when, and if, that times comes---
After you've stopped screaming and checking the ticket with the numbers over and over, (and over again) it's time to step back and take a deap breath. Now exhale! Put the ticket in a safe place.
First off, how long do you have to claim the jackpot? Usually you'll have 180 days to a year, depending on where you purchased the ticket.
You'll have to decide if a lump sum or an annuity is the best way to receive your tidy sum. The best thing is to get with a financial planner. Of course I shouldn't have to say this but don't pick the first one out of the phonebook. Do some research and ask around for references.
If you're wondering if you can keep your name a secret so everyone under the sun is contacting you wanting a piece of the pie, not the case in Missouri. Only eight states Delaware, Georgia, Kansas, Maryland, North Dakota, Ohio, South Carolina and Texas offer you the opportunity to keep your name a secret.
And last but not least, taxes. You'll not only have taxes taken out on the winnings automatically but also the $1.6 billion will kick you up to a higher income bracket so get ready to pay more to Uncle Sam at tax time.