How to Win Your Worker Comp Case What You Should Know
Everybody needs money to survive. It's a fact we may non similar, but it's still a fact. Another inescapable truth is that nigh of us could utilise more money for the things we need as well equally the things we only want. That probably makes the hope of winning the lottery sound like a dream come truthful, only the reality is much more complicated than that.
Consider this cautionary tale of a woman in desperate need who won an unbelievable amount of money. The choices and mistakes she made later winning ultimately resulted in losing information technology all. Her story reminds us all to never forget that money doesn't buy happiness.
Come across Marie Holmes
When she was 26, Marie Holmes was living a difficult life in Northward Carolina. She was a hard-working, unmarried female parent of iv with two depression-paying jobs. On elevation of this, one of her children had merely been diagnosed with cerebral palsy.
Because of her kid's special needs, Marie was forced to quit both of her jobs to care for him full time. Obviously, the $188 1000000 lottery windfall seemed like a Godsend when Marie won, but unfortunately, she fabricated a series of poor decisions that resulted in her losing it all.
Marie made some promising comments about what she planned to do with the lottery money — $127 1000000 afterward she chose to get it in a lump sum. "First I'm going to pay my tithes, because I wouldn't have none of information technology if it weren't for God."
"After that, I'm going to gear up accounts for my kids…I'm going to purchase a firm for me and my kids, then make sure my family unit is all good." Marie also told WGN-Goggle box, "I don't have to worry about the give-and-take 'struggle' no more and neither exercise [my children]."
The Waiting Game
Although most lottery winnings are not life changing, lottery jackpots are huge, and there are rules for claiming those winnings. If a person wins less than $599, the establishment that sold them the ticket pays them their winnings. Nevertheless, at that place is a lengthy process involved in claiming large lottery winnings.
The ticket has to be verified by a scanning machine. Next, in that location is a waiting period for the money to exist awarded, and the winner must fill up out some identification paperwork. Final, the winner must make up one's mind if they want all the money in a lump sum or take it dispersed in installments for 30 years (on average).
Choices, Choices
I of the more than difficult choices when a person wins millions of dollars in a lottery is whether to get the money in a lump sum or in installments. The dilemma occurs because in that location is a large penalty for getting all the money faster in a lump sum.
Marie had the pick of collecting the entire $188 million over thirty years or forfeiting $61 million and collecting the remaining $127 meg much sooner. Financial experts commonly recommend taking the lump sum and investing the money. That allows you the opportunity to make money on your winnings instead of the country. Marie chose the lump sum.
Uncle Sam'due south Cut
Many people don't know how much taxes people accept to pay out of lottery winnings in the U.S., so we'll break information technology down for you. Although the unabridged revenue enhancement amount wasn't reported in Marie Holmes' case, she definitely paid millions to the government.
In the U.S., lottery winnings are considered income by the IRS, on both the state and federal levels. Therefore, North Carolina would have taken 5.8% of Marie'southward $127 million, and the Federal Government would take taken anywhere from 25% to 39.half-dozen%, depending on taxation bracket and other factors. Most people pay the highest charge per unit.
Setting an Example
When Marie won the lottery, she had plans that all sounded very honorable. She said she would donate starting time to her church and and then move out of her mobile dwelling and purchase a new firm for her children. She as well planned to gear up college funds for them.
Marie told NBC, "All the struggle that I e'er went through, it was all for [my children]. I want them to empathize that money doesn't change you, only information technology can aid y'all." The public barbarous in love with Marie after hearing nigh her history of poverty and hard knocks earlier she became wealthy.
Could She Handle It?
The reputation that Marie had in her hometown and elsewhere was that of a difficult-working, unmarried mother who, co-ordinate to her family and friends, "understood the value of a dollar." At one point, she had two jobs — Walmart and McDonald'southward — to support her 4 children. Therefore, nobody expected her to make poor decisions almost where the coin would go.
Of course, no i took into account that Marie was inexperienced and uninformed about how to handle large amounts of coin. When she started deciding how to spend the lottery money, the public viewed her every bit immature and irresponsible.
Financial Advisor, Please?
When people who aren't wealthy win a lot of money, it's highly recommended that they seek professional help near how to manage the money, including what Non to do with it. The average American has absolutely no experience handling large amounts of coin.
Financial advisors warn that even titanic amounts of money can disappear chop-chop if it isn't invested wisely. In the case of Marie Holmes, information technology seemed like her heart was in the correct place and she was doing what she thought was right, simply some expert advice definitely would have helped her out.
The Bad Judgment Begins
The outset thing dubbed a poor judgment call by the public was the $15,000 Rolex that Marie bought her beau, Lamar "Hot Sauce" McDow. The lookout man was more than jewelry than a timepiece and was reportedly "dripping with diamonds."
That aforementioned boyfriend ultimately cost Marie much more. The Port Urban center Daily reported Lamar was a gang member and a drug dealer later he was arrested and charged with "conspiracy to traffic in opium or heroin" in April 2016. He continued to get arrested throughout their relationship, and Marie spent millions on his bond and defense.
The Saga Continues
Before being sent to jail on drug charges in 2014, Lamar McDow lived with Marie Holmes and her children in her trailer. When he was released from jail after serving his sentence, he lived in the $350,000 home that she had purchased later on winning the lottery.
According to the Daily Mail service, of the original corporeality of $188 one thousand thousand, Marie was left with about $88 meg later deciding to have her winnings in a lump sum and paying taxes. This is still a very large amount of money, but a loss of $100 million is patently very significant.
Leeches Coming Out of the Woodwork
Predictably, lots of people immediately started asking Marie and her young man for coin after they heard she won the lottery. The people included friends, family members and numerous others, all requesting diverse amounts of money for all kinds of reasons. Unfortunately, this experience is common for lottery winners.
Marie and Lamar were constantly harassed for coin handouts, and it became very stressful for them. Marie was quoted every bit saying, "When money comes, in that location are more problems," according to reports.
Racial Intolerance in Their New Home
Some other problem that plagued Marie and her family unit in their new life in their new home was harassment from neighbors due to racial prejudice. The neighborhood that Marie moved into with her family was an intolerant, primarily white community, and much to the family'due south chagrin, the residents were not interested in changing.
According to Lamar, "One neighbour gear up a camera to record everything we were doing. If I was driving down the road and going at the speed limit, they would wave at me for going too fast. They did not desire the states there. They were prejudiced." Lamar reported these agonizing events to the Daily Mail service.
The Church Donation
Marie stayed true to her word, which was reported in a press release as "The beginning thing she promised was to tithe — requite a tenth of her winnings to charity." Marie donated a full of $700,000 to her hometown church, Pleasant Hill Missionary Baptist Church, located in Shallotte, NC.
The church reportedly used the money for much-needed renovations. Marie told the press the church was an important role of her life and her faith and that she had been attending that particular church since she was a child.
Pastor Disaster
Unfortunately, a different pastor made contact with Marie and her family unit with an evil ulterior motive. Pastor Kevin Matthews claimed that "God led him to them," and although they certainly regretted it later, Marie and her family believed him and allowed him into their lives and their dwelling.
Soon after meeting Marie, Pastor Matthews asked her for $one.5 million so he could build a retreat. According to him, Marie verbally agreed to fund the project, although in that location is no evidence to support that. He then went alee and began construction on the retreat using his ain money. Marie did not contribute.
Wicked Intentions
Citing a verbal agreement in which Marie allegedly promised to donate $1.5 million for his retreat, Pastor Kevin Matthews announced publicly that he was suing Marie Holmes for $10 meg. The amount of coin named in the adjust was baffling, considering the amount he was allegedly promised was much less.
The public believed Pastor Matthews was being ungrateful and greedy. His behavior seemed unbecoming of a Christian leader to most people of organized religion. The justification for his lawsuit was that he had a exact agreement with Marie for a money donation and bounty for "emotional distress."
Public Outrage
As soon as the media caught wind of the lawsuit, they uncovered that Matthews did not announced to exist affiliated with any church. This led to a astringent, angry public backlash. People shamed Matthews for being a fraud and trying to scam a nice lady out of her rightful winnings.
One YouTuber, "Donald the Repentless," was and then mad most this that he put out videos entitled, "F*** You Pastor Kevin Matthews." Public stance was clear that this so-chosen "pastor" was nothing merely a coin-grubbing scam artist preying on a nice lady to get his hands on a lot of undeserved money.
To Pinnacle It Off: Infidelity
In more bad news for Marie and her children, the media reported that her ex-convict swain was existence unfaithful. Unfortunately, information technology was also reported that she herself paid Lamar'due south mistresses hush money to get abroad instead of getting rid of him.
In more than reputation dissentious news, a video surfaced on Facebook of a woman who claimed that in add-on to Lamar cheating on Marie, he was too stealing coin from her to pay prostitutes for "sexual favors." Unfortunately, the video went viral, every bit juicy gossip often does.
Powering Through
Instead of withering under the scrutiny of the media and the public, Marie decided to take drastic measures to ameliorate her circumstances. She gathered her strength and took matters into her ain hands by turning to a well-known life coach to get some advice about how to amend her life.
Marie contacted Iyanla Vanzant, who has her own show advising people about their relationships on the Oprah Network. Vanzant is a renowned author and motivational speaker with a huge following due to her reputation for changing people'due south lives for the better.
The Truth Revealed
In some other surprising twist, when Marie went on the Iyanla: Fix My Life talk show, her mother, Fontella, came out and revealed that the numbers she chose for the winning lottery ticket were really hers and that they had a very special meaning.
"I kept dreaming well-nigh your brother that nosotros lost. His birthday, he was the tertiary child, he'd take been 25 that yr. Those were the numbers." When Marie asked her mother why she didn't claim the money for herself, Fontella replied, "I merely wanted you to ameliorate yourself for the babies."
The Scoop on Lamar McDow
Lamar "Hot Sauce" McDow was fortunate enough to stay in Marie's adept graces long enough to fight jail three times, to the tune of millions in bond and legal fees. The first time Marie bailed him out, information technology cost her $3 million in bail money.
Before a yr had passed, Lamar was arrested over again, and Marie bailed him out again for $vi million. The third time Marie bailed out Lamar, information technology was $12 1000000. Yous would call back she would take been repulsed by his criminal behavior, but she simply kept spending the money, resulting in widespread criticism.
Misery Loves Company
Marie was warned by many people that if she continued her relationship with Lamar, she could end up with criminal charges herself. Unfortunately, that'due south exactly what happened. One dark, Lamar violated his parole curfew. When the police came, they discovered marijuana in the house.
Tragically, Marie was arrested for possession in front of her children. Marijuana remains illegal in Due north Carolina, but there is a significant racial bias well-nigh who is criminalized for it, co-ordinate to the ACLU. The aforementioned number of white people as black people use marijuana, merely blacks are 3.73 times more than likely to be arrested.
The Boyfriend Defense force
Lamar eventually got angry at the people criticizing Marie for spending her coin bailing him out of jail, and he lashed out. To the Daily Mail, he asserted, "We are a couple, and I am the father of her youngest child. This is what people practise for each other."
Lamar went on to say, "She has the coin, and she can do what she wants with it. If I had that money, and then I would do the same for her. People are just jealous considering of how much she won, and people want to meet me locked in jail."
The Wolf Pit
During the taping of the Iyanla bear witness, the bad headlines just kept rolling in. Marie's family and even erstwhile friends started accusing her of actually stealing the lottery ticket from her female parent, despite Fontella freely albeit on television that she had given the ticket to Marie.
To add together to the stress and drama, Lamar went to jail at this time on a 7-twelvemonth sentence for charges related to possessing and selling heroin. True to class, Marie persisted in pushing forrard and moving on with her life, demonstrating her strength and resilience.
A Goal Met
Despite poor taste in partners, Marie did make some adept decisions most what to do with some of her money. She ended up giving $nine.7 meg to various charities. Part of that money went to the make-new Marie Holmes Foundation, which was established to provide for children in demand.
Marie's foundation provides necessities for underprivileged children. Information technology also holds customs events, which are how some children get their school supplies and their Christmas presents. The foundation helps struggling young mothers similar Marie was earlier she won the lottery.
Do Christians Risk?
Marie was raised a devout Catholic, and she leans heavily on her Christian organized religion. Some people criticized her for playing the lottery at all, considering it tends to be frowned upon by the church building. People have mixed opinions when information technology comes to Christians gambling.
One pastor said this to the Christian Mail service: "Y'all can't be against the lottery, but your youth department is doing a RAFFLE! Same matter, pastor. SAME Thing!" The stigma remains near gambling being an irresponsible money-waster. Others argue that there is nothing specific said about gambling in the Bible, so it's okay when it's not abused.
The Root of All Evil
Other religious people, such every bit one pastor cited in the Christian Post, pointed out that the Bible says that coin is where evil originated. He scolded Marie for buying the lottery ticket and went on to say, "Showtime, we must guard against our love of money."
It should be noted that when the Bible does mention "casting lots," it'due south not usually talking nigh fabric proceeds, merely about God. In an example of this, Proverbs 16:33 states, "The lot is cast into the lap, only its every decision is from the Lord."
Some Friendly Advice
We recommend that others read the unfortunate story of Marie Holmes in example they find themselves in her shoes. Information technology's not at all like shooting fish in a barrel to go from rags to riches, and similar versions of her story take happened to others.
It's important to sympathize tax laws for the long term, the rules of the lottery and investment options if you lot ever find yourself in the position of receiving a large windfall of money. Exist sure to hire a good professional financial expert to help you make up one's mind how to manage your money to avoid reckless decisions.
A Cautionary Tale
If you ever happen to find yourself in the unlikely position of winning the lottery some things to watch out for include authorities laws, lottery rules, state and federal taxes and your previous unpaid debts. These things tin can help you calculate your expendable income.
It may exist unwise in the initial excitement to promise lots of charitable giving, like Marie did, without first doing the math to come across what your take-domicile corporeality really is. Multiple millions of dollars may seem like an enormous amount, but as Marie discovered, it's easy to burn through it quickly if you are uninformed.
Further Drama
Some think that Marie had a run of terrible luck after she won the lottery, while others think she brought her woes upon herself with poor controlling. A few think the truth lies somewhere in the heart of those 2 black-and-white judgments.
Aside from spending millions on her beau — who somewhen ended upwardly in federal prison house anyway — Marie also made some other questionable decisions after winning the lotto, such equally buying her swain a business of his ain and buying her mother a business firm. She also had harassment charges filed against her for allegedly calling a woman repeatedly to threaten her.
The Bottom Line
The ending of this story is mostly grim, although Marie Holmes did practice some positive things with a lasting impact before the last of her money was gone. She didn't seem to realize that she would be nether a microscope with the media and the public.
Here are a couple more tips, just in case you ever hitting it big: Don't trust anyone request for money, even if they seem to have a very respectable social status (like the pastor who sued Marie Holmes). Remember the good that money can do, simply don't forget the bad. No thing what, don't make bold promises immediately after winning.
Source: https://www.reference.com/business-finance/what-not-to-do-if-you-win-lottery?utm_content=params%3Ao%3D740005%26ad%3DdirN%26qo%3DserpIndex
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