NEW YORK (FOX 5 NY) - The current jackpot for the Powerball lottery is a record-breaking $1.5 billion. The cash value amounts to $930 million. The next drawing is Wednesday night.
If you win, attorney Jason Kurland, the "lottery lawyer," who has had several major lottery winners as clients, says there are things you should NEVER do.
1. Don't take the annuity despite what others might say.
"You will do better investing yourself than letting the lottery do it for you, but you need an expert advising you," said Kurland.
2. Don't immediately give away money to needy family or friends.
"Take a deep breath. I see what their goals are and go from there. Grow into it," said Kurland.
3. Don't invest all your winnings right away.
"Start investing slowly. You will earn $21 million a year if you invest conservatively," said Kurland.
4. Don't go out and buy houses for everyone.
"We set up trusts so you can do that the right way," said Kurland.
For more tips, visit TheLotteryLawyer.com