The Powerball jackpot has once again hit an historic high, but if you win big, there are some things you should know.
According to experts, winners should immediately sign their ticket and give it to lotto officials. But what you might not think about is they also say you shouldn’t tell you social media followers or even your family.
“It’s so tempting to tell everybody and eventually you can, but first thing you want to do is get that infrastructure in place,” said securities lawyer Andrew Stoltmann.
Stoltmann recommends hiring a lawyer, CPA and major investment firm. He also said avoid taking a lump sum.
“It’s like any other asset,” he said. “As long as you have a will and you decide who you want that money to go to those heirs will get that money.”
No Powerball ticket matched all six winning numbers in the $562 million drawing Wednesday night, and the jackpot rose tens of millions of dollars more ahead of the next drawing.
Saturday’s drawing will be an estimated $625 million, game officials said Thursday. That makes it the fourth largest in game history, and the seventh-largest in U.S. lottery history.