Good Tips Before Claiming Your Lottery Prize

Some of us play the lottery with every intention of winning the big prize. Others play the lottery thinking that they won’t win but it sure would be a nice surprise to see your lucky numbers match the jackpot.

The real question that needs to be asked is what will you do when you win that life changing jackpot? Knowing what to do when you win is very important. It just might help you hang on to that money for a long time to come.

Here are some of the most important things you can do to avoid becoming a victim of your own success after winning. Establishing a good foundation is key to making the most of your new found fortune. Before you speed off to claim your winnings, check these items off your list of what to do first:

1. Guard Your Ticket – First and foremost, protect your winning lottery ticket at all cost. Sign it and make paper copies, backup digital copies, buy a home safe or take the ticket to the bank to store it in a safe deposit box. 
2. Quitting Your Job? – Just remember to keep your winnings quiet at work. A quiet grin is all you need. Otherwise, word could get out before you’re ready and your boss may start looking for someone to replace you.

3. Hire Professionals – Get a tax attorney and a CPA that deals with lottery winners. They may cost you a little more but they will likely save you in the long run.

4. Change Your Address and Phone Number – Everyone you have ever known and many you have never met will be reaching out to you so fast it will make your head spin. Change your phone number and mailing address immediately and prior to redeeming your ticket.

We will follow up soon with what to do after claiming your prize. Until then, play on!