Lottery jackpot winners advised to “take it slow” – November 15th 2011

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Fans of big-prize lottery draws such as Italian SuperEnalotto and EuroMillions might already have a plan in their head as to where their jackpot money will go when their lucky numbers come through.

One expert has recommended, however, that fortunate lotto fans do not rush into the millionaire lifestyle, advising those who land an enormous windfall to stay level-headed.

Speaking to the Calgary Herald, Michael Whitty, a lawyer who specialises in estate planning and taxation with Vedder Price in Chicago, said he has provided guidance for clients who have won massive payouts playing the lottery in the past.

“My best advice to the lottery winners is three things – take it slow, keep it quiet and get a good financial adviser,” the legal professional suggested.

One of the areas in which lotto winners may need help is with the media attention that comes with such a prize.

Illinois Lottery spokesman Mike Lang said there are officials available to help people through the process and going public can yield some good things for the lucky lotto fan.

“Once they do the publicity and press conference and things, they look back on it pretty fondly,” he commented.

Everybody’s plans for what they want to do with their lottery finances are unique, but having a relaxed approach if they scoop a jackpot could be a wiser move overall.

To make these dreams come true, lottery fans can play their favourite draws at theLotter, where they are alerted if their luck comes in.