My Lucky Gen

Step 1: Secure the Ticket

WAIT! BEFORE YOU SIGN THE BACK. In most places, a lottery ticket is a bearer instrument. Signing it makes it yours. But if you want to remain anonymous, most lawyers will say don't sign it.

In most states anonymity is not an option, which then you should sign it immediately.

Based on the most recent information, the states that allow lottery winners to remain anonymous to some extent are:

• Arizona (for prizes of $100,000 or more)
• Delaware (can remain fully anonymous)
• Florida (for 90 days after claiming prizes over $250,000)
• Georgia (for prizes over $250,000)
• Illinois (for prizes of $250,000 or greater, if requested at the time of claiming)
• Kansas (can remain fully anonymous)
• Maryland (can remain fully anonymous)
• Massachusetts (winnings can be claimed by a trust)  
• Michigan (for prizes of $10,000 or more in local state games, excludes Mega Millions & Powerball in some instances)
• Minnesota (for prizes over $10,000)  
• Mississippi (requires the lottery to have written permission to release identity)
• Missouri (the state must have prior consent to publish a winner's name)
 
• Montana (the winner must permit their name to be released)
• New Hampshire (can sometimes remain anonymous via a trust, case-dependent)
• New Jersey (winners of prizes over $1 million can choose to stay anonymous)  
• New York (can remain anonymous by claiming through a trust or legal entity)  
• North Dakota (can remain fully anonymous)  
• Ohio (can remain anonymous, often through a blind trust)  
• South Carolina (can remain fully anonymous)  
• South Dakota (for scratch ticket games of any amount)
• Texas (for prizes of $1 million or more)  
• Virginia (for prizes of $10 million or more)  
• West Virginia (for prizes of $1 million or greater)  
• Wyoming (can request to remain anonymous)  

Make several photocopies (front and back).

Store the original ticket in a safety deposit box or a fireproof home safe.

Step 2: Stay Quiet (Resist the Urge!)

Do NOT tell anyone you've won, except perhaps your spouse after careful consideration. No social media posts!

Telling people leads to unwanted attention, requests for money, and security risks.

Consider changing your phone number.

Put social media accounts on private/vacation mode.

Step 3: Assemble Your Team of Professionals

Before claiming, gather trusted advisors:

• Financial Advisor/Planner: Fee-only, fiduciary, experienced with sudden wealth.
• Attorney: Experienced in estate planning, trusts, asset protection.
• Accountant (CPA): Expert tax advice is essential.

Step 4: Plan BEFORE You Claim

Work with your team to decide:

• Anonymity: Can you claim anonymously in your state? Check rules. A lawyer can advise on using trusts.
• Payout Option: Lump Sum vs. Annuity. Discuss pros/cons (taxes, investment, spending control) with your financial advisor.

Step 5: Claiming the Prize & Payout

Follow official lottery procedures. Present signed ticket and ID.

Be prepared for media if anonymity isn't possible. Your lawyer can help prepare a statement.

Step 6: Managing the Money

Work with your financial advisor:

• Pay Off Debts: Strategically eliminate high-interest debts.
• Budget & Financial Plan: Understand cash flow, set limits, define long-term goals.
• Invest Wisely: Develop a diversified portfolio based on risk tolerance/goals.
• Emergency Fund: Keep 6-12 months of expenses easily accessible.

Wait before major purchases. Adjust emotionally and financially first.

Step 7: Handling Family, Friends, and Requests

This is often the most challenging part.

• Set Boundaries: Decide *in advance* how to handle requests/gifts. Have a unified plan.
• Learn to Say "No": You cannot help everyone. Decline politely but firmly. Advisors can act as a buffer.
• Consider Philanthropy: If desired, set up structured giving (donor-advised fund, foundation).

Don't gamble your winnings. Treat them with respect and careful planning.