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Mega Millions Lottery Lottery: If you win, here's how to be safe:

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Lottery Fever struck!

When players choose their numbers in Washington DC and the US Virgin Islands today and tomorrow, in addition to 45 states, and dream of winning, they actually know how to protect themselves if they win the jackpot. Few people know.

Financial professionals have available resources Lottery applicants..

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Here are seven tips from lottery committees, insurance companies, personal wealth management companies, and more on what lottery winners need to do to keep their lives and money safe.

1. Beware of fraud

Lottery players should be wary of scams, whether or not they have won the jackpot.

Some scammers mistakenly identify themselves as lottery employees in an attempt to steal money from unsuspecting people. Mega Millions I warn you.

A blank form of the Mega Millions lottery is placed in a bottle at a local grocery store in Des Moines, Iowa.

A blank form of the Mega Millions lottery is placed in a bottle at a local grocery store in Des Moines, Iowa.
(AP photo / Charlie Neibergall)

“Mega Millions representatives do not call, text, or email anyone about winning prizes,” said the lottery committee websites in multiple jurisdictions. ..

Lottery scammers are “permanent,” use real or crafted company names, and offer “free play” or “prize” to make them look legal, Mega Millions said. I warn you.

Fraudsters can also request personal information or payments that claim to be “taxes” or “fees.”

Be suspicious if your contacts require privacy of communications or request banking information.

According to Mega Millions, useful tips include suspicion of winning a lottery from a game you’ve never played, or suspicion of an email containing “misspelling or grammatical errors.”

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The Lottery Commission also warns that people should be suspicious if their contacts ask for confidentiality of communications or for banking information.

“In a real lottery, you don’t tell the winner to spend your money to collect the prizes you’ve already won,” Mega Millions said.

2. Get expert advice

Mega Millions advises that lottery winners need to form a team of financial experts if they win the grand prize.

The Lottery Committee encourages winners to look up resources. Financial planning tool He is also an individual expert at the American Institute of Certified Public Accountants, a national professional organization affiliated with over 428,000 CPA.

Lawyers and financial advisers may also be worth considering, according to State Farm Insurance.

3. Keep the ticket safe!

According to State Farm, lottery winners will need to make some “copies” of the winning tickets. These copies can be shown to a lawyer or accountant while the original ticket is stored in the safe deposit box or bank safe deposit box.

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State Farm also warns that lottery winners must read the rules and contracts for each game before signing the winning ticket.

“In some cases, signing a ticket may prevent you from creating a blind trust later,” said the insurance company’s “What to do if you win the lottery” article.

Since players want to win the lottery, one financial adviser states that for the time being, the winner will need to put a ticket in the safe deposit box and consult with a legal or financial adviser.

Since players want to win the lottery, one financial adviser states that for the time being, the winner will need to put a ticket in the safe deposit box and consult with a legal or financial adviser.
(IStock)

A financial adviser in the New York City area recommended that you keep your ticket in the bank’s safe deposit box until legal affairs and consultation with your financial adviser are complete.

He also said he understands your particular state rules as to whether you can remain anonymous. “It’s very important,” he said.

4. Protect your privacy

Lottery winners must keep their winnings private before submitting their tickets, State Farm advises.

Winners should also be prepared to change their contact information. This is because many lottery tickets require sharing names and attending interviews and press conferences for transparency reasons.

Some lottery winners may be able to form a blind trust through a lawyer and receive their prizes anonymously.

Some lottery winners may be able to form a blind trust through a lawyer and receive their prizes anonymously.

“Please change your phone number and set up a new PO Box in advance to avoid flooding with requests,” State Farm wrote.

The insurance company states that some winners may be able to form a blind trust through a lawyer and therefore receive the prize anonymously.

5. Make a money plan

Forming a team of financial professionals is an important step for most lottery winners, but State Farm plans for winners to make a general list or what they want to do with their money. Say you need.

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“Write down your personal, financial, lifestyle, family and philanthropic goals to help you get back on track later and get them on the right track in the long run,” says the insurance company.

6. Procrastinate big decisions

Earn millions of dollars to make large purchases or Lifestyle changes — However, Creset Capital’s Private Wealth Manager advises against this.

“You need to consider how your employment contributes to your self-consciousness and your mental well-being,” said Cresset Capital, “what you should (and shouldn’t) do if you win the lottery. That) ”article.

Shows customers buying tickets at stores in San Bernardino County, California.

Shows customers buying tickets at stores in San Bernardino County, California.
(Reuters / Gene Brevins)

Chicago-based financial planning firms say lottery winners may want to consider joining instead of choosing to retire early or making other dramatic moves.Engaged in time work, higher education, volunteering, or passionate hobbies.

Cresset Capital also said to the lottery winners, ” Family and friends“To avoid endangering financial planning early on.

“This is not saying that you should keep all the money for yourself, but when and how you give it so that you are not indignant or used for your wealth. Take the time to think about it, “the company writes.

7. Ask if you should take a lump sum

Some winners are okay with a one-time lottery payment, while others benefit from receiving a pension payment (a series of even payments divided over a period of time).

“Careful planning and consideration increases the overall value of the win,” said Cresset Capital.
(IStock)

Cresset Capital advises the winner to seek feedback from a financial adviser to determine which option is best for them.

“Compare after-tax returns, investment returns, life expectancy, and more,” writes Cresset Capital. “Careful planning and consideration can increase the overall value of a win.”

By the way, decisions about how to receive prizes can vary depending on age, health, family conditions, etc., said a New York-based financial adviser consulted by FoxNews Digital.

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All of this can influence the best decisions you make in this regard.

And another bonus tip

If a lottery winner or someone close to a lottery winner has a gambling addiction, Mega Millions says getting help from a gambling addiction association may be an important step.

The two organizations recommended by the Lottery Commission are the National Council on Gambling Addiction and the Anonymous Gamblers.

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The National Council on Gambling Addiction has affiliates in 34 states, but Gamblers Anonymous has hotlines in each state and meets face-to-face for virtual meetings.