What should I do first after winning?

Protect the ticket, limit what you share, and book a quick consult with an attorney and CPA. Next, estimate after-tax outcomes with a lottery tax calculator.

Can I claim anonymously?

Anonymity depends on your state. In some places you can use a trust or other structures. Ask your attorney about state-specific rules before claiming.

Should I take lump sum or annuity?

It depends on discipline, taxes, investment plan, and risk tolerance. Read our guide on Lump Sum vs Annuity and run scenarios with our calculators.

How should I secure the ticket?

Sign as advised by your state, photograph it, and store it in a secure location such as a home fireproof safe or a bank box until claiming.

Maintaining Control After Winning the Lottery

Q: How do I handle requests for money?

Create a written policy (or third-party grant process), refer all requests to your team, and practice clear personal boundaries.

Powerball is now at $1.7B. Before you celebrate big, use our Lottery Tax Calculators to see your after-tax estimate—then follow the steps below to protect your win and keep control.

This guide is about staying level-headed at an exciting time—avoiding preventable mistakes and making smart, steady moves.

Quick Next-Steps (Do These First)

Protect the ticket: Sign the back (or follow your state’s guidance), take clear photos, and store it securely. See our Winning Lottery Tickets checklist.
Stay private: Limit what you tell anyone until you’ve met with professionals. Ask whether your state allows anonymity or trusts to claim.
Hire your “A-Team”: a lottery/estate attorney, CPA/tax pro, and a fiduciary financial planner (CFP®). More below.
Estimate your cash flow: Compare lump sum vs annuity and run numbers with our calculators.
Set boundaries early: Decide what you’ll say to requests and stick to it. Tips below.

The Bad News (Pitfalls to Avoid)

Without a plan, winners can face problems—overspending, lawsuits, strained relationships, even bankruptcy. Some estimates suggest 30%+ of winners go bankrupt, and several studies find elevated bankruptcy risk within a few years.* Emotional stress is real too: resentment, entitlement, guilt, isolation, and depression can all spike after a windfall.

Ground yourself with facts: how much is really yours? Start with the tax calculators to set realistic expectations.

The Good News (A Calm, Proven Approach)

The point isn’t to dampen the moment—it’s to keep you in control. With a good team and a clear plan, you can avoid common hazards:

1) Build your professional team

Lottery/estate attorney: Claim strategy (anonymity or trusts where possible), asset titling, privacy protection.
CPA/tax advisor: Withholding, estimated taxes, multi-state issues, charitable planning.
Fiduciary CFP®: A written plan for spending, investing, insurance, and long-term cash flow.

Start with a brief “triage” meeting to map deadlines and immediate actions. See our starter list of lottery lawyers.

2) Decide lump sum vs annuity

There’s no one-size-fits-all answer. Annuities add guardrails and reduce overspending risk; lump sum offers flexibility and potential investment upside. Read our guide: Lump Sum vs Annuity and model your scenario with the calculators.

3) Protect privacy & boundaries

Control the narrative: Prepare one short statement (or no statement) and route requests to an attorney or spokesperson.
Automate “no” gracefully: A simple policy like “All requests go through our advisor’s process” keeps emotion out.
Learn healthy boundaries: Consider a practical guide to saying no—see Amazon results for
“setting boundaries”.

4) Secure the ticket & documents

Until you claim, treat the ticket like cash. Store in a safe place; consider a small fireproof safe. Browse Amazon for
well-rated fireproof safes.

5) Learn from past winners

Stories from previous winners can help you avoid common traps. See Amazon results for
“Lottery Winners: How Winning Changed Their Lives” to find books that compile lessons and cautionary tales.

FAQ

What should I do first? Protect the ticket, stay private, and book a quick consult with an attorney/CPA. Then run the numbers on taxes.

Can I stay anonymous? It depends on your state. Your attorney can advise on trusts and privacy options where allowed.

Lump sum or annuity? Use our calculators and read Lump Sum vs Annuity for pros/cons and risk tradeoffs.

How do I handle requests for money? Decide a written policy and stick to it. Consider a formal grant process managed by advisors, plus a personal boundary playbook.

Responsible play: Lotteries are chance-based; nothing here is legal, tax, or investment advice. 18+ (or 21+ where applicable). Call 1-800-GAMBLER. In NY, call 1-877-8-HOPENY (467-369) or text HOPENY (467369).

*Statistics often cited by the Certified Financial Planner Board of Standards and the paper “The Ticket to Easy Street? The Financial Consequence of Winning the Lottery.”