News

What to do after you hit the Mega Millions jackpot

published in Associated Press | March 29, 2012

Just one day before Mega Millions lottery officials were set to draw for a record multi-state jackpot valued at more than $500 million dollars, practical advice for the lucky winner(s)-to-be was already making headlines.

In his nationally distributed article, “What to do after you hit the Mega Millions jackpot,” Associated Press writer John Seewer says thought and planning are required to protect one’s riches, identity and sanity.

Richard Craig, a tax attorney with McAfee & Taft who was interviewed for the story, agrees. The firm has represented a number of lottery winners over the years, and he advises lottery winners to make it a priority to assemble a team of trusted financial managers, tax experts, accountants and bankers first.

The article also offered advice on what to do with a winning ticket, whether to take the cash payout or annual payments, and whether it’s a good idea to splurge on yourself or help others with the winnings.

The AP article appeared online and in print in more than a hundred news outlets from coast-to-coast.  Richard was subsequently interviewed by WBZ News Radio 1020 in Boston, KOMO News Radio 1000/97.7 in Seattle, and KFYI News Talk 550 in Phoenix.