As the POWERBALL JACKPOT soars into the billions, many have started making plans for what they would do with the money if they were to win. While it might seem tempting to quit your job upon drawing the winning ticket, let’s look into what a potential lottery winner should consider initially doing:
1. Check the numbers two and three times to make sure it is all correct.
2. Sign the back of the lottery ticket, but make sure there is some room above it if you choose to create an LLC or Trust. A lottery ticket is considered a bearer instrument so the person who signs the back will be the holder of the ticket.
3. Make a photocopy of it and hide the original in a safe place. A safety deposit box at a bank is a good choice.
4. Go Anonymous. And stay low. Do not advertise that you are the winner.
5. Get Prepared. Hire lawyers, financial advisors and CPAs. They can help with your choices.
6. Plan a simple week trip away from home after the press conference. This will help with your privacy.
Read about and learn from the past mistakes of others and keep family and friends at arm’s length. It’s important that you make wise decisions and avoid getting too carried away.