Viewing entries tagged

What to Do After You Win Big

What to Do After You Win Big

In my 25 years of law practice, I have been called 3 times to assist a client who has won more than a million dollars in the lottery.  What I have found is that decisions made in the first couple of days after winning will determine just how lucky that winning ticket really was.  Even more frequently, we handle estate settlements where beneficiaries are, for the first time in their lives, put in the position of managing a large sum of money.  The same principles apply.

A panel of experts created this list of 20 steps to take should your number get called.

Step 1: Try to keep quiet. Don't tell anyone you have won until you actually have the money. However large the sum, your life is going to change pretty drastically, and it takes a while for your newly minted circumstances to sink in. So relax, take a deep breath, and don't blabber. You want to keep your privacy for as long as possible.

Read More