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What to Do After Winning a Lottery

What to Do After Winning a Lottery

We know from the history many people who won the jackpot and eventually found out that victory could lead to disaster. There are countless stories about people winning the lottery and going down afterwards. For example, many winners have been drug addicts, throwing their money thoughtlessly and getting into debt because they could not handle to take on an expensive lifestyle.

It is not an ideal start to a helpful article that should give you some advice. But we want you to realize beforehand that winning a lottery is a significant risk! That is why we have gather information, from lawyers who advise to instant millionaires.

First steps when you find out you have won

We took the most input from American lawyer Jason Kurland, who had countless experiences with lottery winners. He guides and legally represents the winner of the world’s largest Powerball lottery.

  1. Check your ticket several times

Double-check your ticket. Make sure that you hit all the numbers. Check it on the official lottery website and check the numbers on the lottery ticket to make sure that your date numbers match the date.

  1. Sign your ticket and keep it in a safe place

The first thing you should do after checking the numbers and date is the signature on the back of the ticket. Your ticket is now a bearer instrument and the one who is signed on it is technically the owner of the ticket. Make sure that there is still a blank space under your signature because if you and your lawyer later decide to send the win to a trust fund, LLC or another type of entity, you will add this entity to the blank space under the signature, which will allow you to remain anonymous in the future when you win the prize.

Immediately make a photocopy or scan both sides of the ticket after signing. Now you have a piece of paper in your hand that has accumulated a value of many millions in a matter of seconds. You do not want to lose it. Now you can only work with a copy of the so keep original in a safe place. Ideally, the ticket should be placed in a safe. If you do not have access to one, make sure, it is hidden in the safest possible place.

  1. Be calm and don’t tell anyone about winning (Stay anonymous)

Calm down. You may want to shout the whole world, organize a huge party and give each of your better friends a few tens of thousands. Alternatively, the win will take your breath away, at best. The truth is that the fewer people you know you have won, the better. For you and your family. In the coming days, you will regret that you have ever told anyone about winning. Absolutely the worst thing you could do is to publicize your winnings on social networks – forget it immediately. Everyone, indeed everyone, even people you do not know would be able to trace this information and then they could locate all your friends, loved ones or worse members of your family.

In short, news of this type travels fast, and the last thing you need is pressure from all of your acquaintances who congratulate you and, in the worst case, start asking for loans before you pick up your winnings. We understand you want to share this wonderful message with your loved ones, but do not tell anyone yet.

  1. Contact experts

Winning the lottery or progressive jackpot is one lucky thing, but it can quickly turn around, after all, there are many stories of people who lost everything because of it.

You should then contact experts who specialize in the area of so-called fast millionaires because your decisions may not always be the best. The financial professionals will advise you on how to save as much tax money as possible and will inform you of all of the following steps before collecting your winnings. In addition, they will help you plan how to use your money to enjoy your dream life without problems.

  1. Take your time to think

The world will want to meet the latest multimillionaire, whether it is just curiosity, news articles, charities or others. However, this media interest quickly disappears. You have enough time to collect your winnings, as told by a lawyer. Therefore, it is best in the early days to go into a quiet place with your loved ones, take a deep breath and calmly think what you want from your life.

Just make sure by phone that your lawyer and his team are preparing all the necessary documents to collect the winnings and agree to stay anonymous.

About Emma Gilbert

Working in the marketing industry since 2002. This blog is one of my hobbies.

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