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1. Lump Sum
2. I'm in California so the main thing I would want to do is stay anonymous. So the most practical way is to talk to my close cousin who lives in Texas and come up with some type of deal where she can claim the ticket on my behalf. If there was someone I would trust that's not a sibling or my parents it would be that cousin so hopefully it would work out great.
3. As soon as possible pending the legal, tax and other nuances of getting it claimed via my cousin.
4. Spreading the money to close family/friends will vary. No idea how much we would give, but I assume somewhere between $50-75 mil total. I would also ideally start some non profit charity that I can legally put money into to reduce my tax burden. I would then diverse my investments. Likely DCA into various stock market funds/ETFs, play with some money on more riskier individual stocks and gradually build up property. Kids trust funds and have $10-20 mil in some offshore account. Donate to charity/research as well.
It's not going to work.
If I purchase a Mega Millions ticket in one state, can I redeem it in another? Because Mega Millions® is sold by individual lotteries, any winning tickets must be redeemed in the state in which they were purchased.
You could claim that you purchased the ticket in California and gifted it to your cousin but your cousin would still have to cash it in California and disclose their name.
I'd be interested to know how many tickets were sold for the last drawing.