So you won the powerball, now what?

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Three people today won the 1.6 billion dollar powerball drawing. One ticket was bought in Melbourne Florida. If you are the winner what should you do before claiming the ticket. First, call your lawyer, financial advisor and CPA. If you don’t have an attorney, go to the Florida Bar website and search for a Florida Bar Board Certified Attorney in Wills, Trusts and Estates. These attorneys (and I am one of them) are familiar with estate and tax planning strategies to help you best maximize your new found wealth from a legal standpoint. There will be many challenges both financial, legal, asset protection and emotional to name a few and you want to have a game plan before you collect your winnings. I also read an interesting article by a CPA with whom I have worked and I have added the link here: http://www.ibtimes.com/powerball-lottery-winners-get-more-jackpot-how-manage-sudden-windfall-2263242

 

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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