What to do if you win the lottery, according to experts
The IndependentStay ahead of the curve with our weekly guide to the latest trends, fashion, relationships and more Stay ahead of the curve with our weekly guide to the latest trends, fashion, relationships and more Stay ahead of the curve with our weekly guide to the latest trends, fashion, relationships and more SIGN UP I would like to be emailed about offers, events and updates from The Independent. “So that’s really what my recommendation is, is to not sign the back of the ticket, just make a good copy of the back of the ticket, put it in a safe place.” The same advice is also given by insurance company State Farm, which notes that you shouldn’t sign your ticket because “in some cases, signing your ticket might prevent you from creating a blind trust later”. “You may also consider forming a blind trust through your attorney to anonymously receive the money, keeping your name out of the spotlight.” Consult a financial advisor, lawyer and accountant After making multiple copies and placing a winning ticket in a secure place, perhaps the most important thing for lottery winners to do is form a team of trusted advisors, made up of financial advisors, lawyers and accountants. “You’re going to need a lawyer, accountant and financial advisor who have experience with large financial windfalls - finding them should be one of your first steps before you claim your money,” State Farm says. In addition to a budget, lottery winners should also avoid lending money to loved ones, or anyone who comes seeking it, as William R Patterson, chairman and CEO of the Baron Solution Group, told Today this is “one of the fastest ways to lose your money”.