Avid lotto players and occasional participants of lotto games alike love to dream about what they would do if they won a huge lotto jackpot. New homes, new cars, luxury holidays and quitting the day job are probably at the top of the list of things many would do if they won the big one. If you did win though, there are some things that you should know to help you handle the sudden windfall of such large amounts of money.
Most people probably don’t realize that they should sign their winning ticket. If you don’t, it is possible that someone else can take your unsigned ticket and claim your prize. When you think you have a winner, sign the ticket and take a picture of yourself with it. This will protect you in the event that your winning ticket is lost or stolen.
Simple things like this may not be apparent to a winner, especially with all the excitement of the occasion going on. But they can make a big difference and stop a lot of heartache too if things did go wrong. Making your winning ticket as secure as possible should be your first priority as soon as you have confirmed that it is actually a winner.
Depending on where you are and what game you played, you should find out if you can remain anonymous. In the United States, for example, only a handful of states, like South Carolina, will allow a lotto jackpot winner to remain anonymous. Other states will release the casinnames of winners to the media. You will need to prepare yourself for the barrage of media requests as well as people who are looking to benefit from your new wealth.
Winning a significant amount of money can lead to some problems. In order to help you make good sound decisions, it is recommended that you hire a good attorney and a financial advisor who have experience with people who have won large amounts of money. These two people will help you with decisions such whether you should take a lump-sum payment or elect to take your winnings in the form of an annuity.
When you win such a large amount of money it can enable you to have financial security for the rest of your life if it is managed properly. But many lottery jackpot winners do not get the right financial advice and they find themselves broke again after a few years as they were in the belief that the money would never run out. So make sure you do the right things if you ever do win a big lotto jackpot.