This pharmacist is a model for how other people should win the lottery
Sporting large sunglasses, the winner, a pharmacist, came forward, but she refused to provide her name or where she lived. An occasional player, she bought the winning ticket at a gas station at 851 S. Sutton Rd. in Streamwood.
The first step wasn't to get the money. A family member referred them to Wood Dale attorney Terry Zimmer, who assembled an advisory team, including estate planner Richard Kuenster.
"I told her get an unlisted number A.S.A.P.," Kuenster said.
The team helped the family create the JYS Family Limited Partnership and put together entities to keep the winner's identity from the public, and shield the money from some taxes, creditors and frivolous lawsuits while providing for her, her husband, children and any future grandchildren, Kuenster said.
"We're so proud of them for taking that time," said acting Illinois Lottery Superintendent Jodie Winnett. "What a sharp winner we have in Illinois and we hope that the rest of our community will hear this and that they'll take a deep breath and consider protecting themselves."
I think everyone has thought about what they'd do if they won the lottery. Most of the thought cycles probably spent on how they'd spend the money, rather than on how they'd protect themselves. I've given the collection, protection, and diversification of a large sum of money some thought in the past when Powerball has gotten up into the hundreds of millions. (It's fun to dream isn't it?) The lawyer and financial advisor seemed no-brainers to me, but an estate planner didn't occur to me. Naturally, doing everything in my power to remain anonymous is also right up there, but the third-party organization as a shield was a new one, but a smart one given her profession.
Good on her.
(The press conference is required.)
–
Anecdotally, we have a past lottery winner that comes to our store, and like this pharmacist, she is very discreet, and has managed to not blow all of her winnings in spectacular fashion. Smart people do, in fact, win the lottery sometimes. 
No Comments »
No comments yet.
RSS feed for comments on this post.
| TrackBack URI
You can also bookmark
this on del.icio.us or check the cosmos