What to Do If You Win the Lottery
The first 24 hours are critical. Follow this step-by-step checklist before claiming your prize.
Take your time. Most states give you 90 days to one year to claim. There is no rush. Prepare properly before filing your claim.
Stay Quiet
Do not tell anyone except your spouse. Not even your mom or dad.
Secure the Ticket
Store the ticket in a fireproof safe or bank safe deposit box. Treat it like cash.
Photograph the Ticket
Take clear photos of both sides. Store copies in multiple secure digital locations.
Check State Claiming Rules
Research your state's rules about signing the ticket, trust claims, and anonymity BEFORE signing anything.
Contact a Lottery Attorney
Find an attorney experienced with lottery claims. They'll advise on privacy, claiming strategy, and legal structures.
Contact a CPA
A tax professional will help you understand your tax obligations, estimated payments, and filing strategies.
- 1.Deloitte Private / Deloitte Tax
- 2.KPMG Private Enterprise / Tax
- 3.Baker Tilly
Contact an Estate Attorney
Plan for trusts, wills, and asset protection before claiming your prize.
Contact a Fiduciary Financial Advisor
A fiduciary advisor is legally required to act in your best interest. Ask about wealth management and investment strategy.
Explore Trust/Legal Entity Options
Depending on your state, you may be able to claim through a trust or LLC for privacy protection.
Decide Lump Sum vs. Annuity
Work with your financial team to determine which payout option is best for your situation.
Use Private Banking / Wealth Management
Big banks have private client teams that handle large deposits, investments, cash management, trusts, estate planning, and tax coordination.
- 1.J.P. Morgan Private Bank
- 2.Morgan Stanley Private Wealth Management
- 3.UBS Wealth Management
- 4.Goldman Sachs Private Wealth Management
Claim Only When Prepared
Do not rush. Take the time to assemble your team and plan thoroughly before filing your claim.
Learn More
Lottery tax calculations are estimates only and may not reflect your final tax liability. This website does not provide legal, tax, financial, or investment advice. Always consult a qualified CPA, lottery attorney, estate attorney, and fiduciary financial advisor before claiming a prize.