Media Mention
11/08/11 -
Michael Whitty to Lottery Winners: “Take It Slow, Keep It Quiet and Get a Good Financial Adviser”
Michael D. Whitty, Shareholder and member of Vedder Price’s Tax and Estate Planning practice group, was quoted recently in the Chicago Tribune article “The Secret Millionaires Next Door.”
The article is an account of a Chicago couple who recently won $30 million from the Illinois Lottery. Rather than publicize their winnings, the couple chose to set up a limited liability company, or LLC, which allowed them to receive their windfall yet remain anonymous to the public.
This is a sound approach, according to Mr. Whitty, who advises clients on estate planning and taxation matters. As he states in the article, his best advice to lottery winners is to do three things: “Take it slow, keep it quiet, and get a good financial adviser.”
“The Secret Millionaires Next Door” appeared in the November 6, 2011 print and online editions of the Chicago Tribune.
|
