So you won the lottery? Now what? First Things First Time Limit to collect the money, Don’t rush. Bearer instrument. Sign the back Make copies of the ticket—do not run around town with the actual ticket Do not tell everybody. Keeping it private is one of your biggest assets. How much did you win.
A 1035 exchange is a provision in the tax code that most people have not heard about. It allows for the direct exchange of accumulated funds in a life insurance policy or annuity for another life insurance policy or annuity without creating a taxable event.