Tips to stay safe after winning a Powerball jackpot - KFVS12 News & Weather Cape Girardeau, Carbondale, Poplar Bluff

Tips to stay safe after winning a Powerball jackpot

So, you've won the record-breaking $1.5 BILLION dollar Powerball jackpot! Now what do you do? (Source: Sherae Honeycutt, KFVS) So, you've won the record-breaking $1.5 BILLION dollar Powerball jackpot! Now what do you do? (Source: Sherae Honeycutt, KFVS)
Cape Girardeau Lawyer Matthew Ferrell has a few tips on where you should go from here. (Source: Sherae Honeycutt, KFVS) Cape Girardeau Lawyer Matthew Ferrell has a few tips on where you should go from here. (Source: Sherae Honeycutt, KFVS)
CAPE GIRARDEAU, MO (KFVS) -

So, you've won the record-breaking $1.5 BILLION dollar Powerball jackpot!

You may find yourself sitting alone in your house, with your close family and friends, or maybe in a crowded place.

Now what do you do?

Cape Girardeau Lawyer Matthew Ferrell has a few tips on where you should go from here.

  1. Protect your winnings: Sign and date your ticket. Then, put it in a safe deposit box or a fireproof safe in your home. Don't tell anyone where it is or what is inside.
  2. Be careful who you tell: Ferrell says you should only tell who you have to. Maybe your parents, close family, or extremely close friends.
  3. Find a lawyer: You will want to find an estate and/or tax lawyer. By law they have to keep the fact that you've won confidential. Your lawyer can contact the lottery for you. They can also find ways to keep you anonymous and safe through the process.
  4. Manage your money: Consult with a lawyer and financial advisor to make the decision if you will take the lump sum or payments. Make sure that your money is invested the way you want it.
  5. Think about the future: Lottery officials say when a winner dies and they have selected payments the money goes to a trust or beneficiary. Set up a plan for where that money will go.

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