- Claiming your Prize
You do not want to miss the deadline and for that, you need to check out the rules in your state for claiming the prize. How long it will take to claim the prize will depend on you and your decision to take the whole prize at the same time or as an annuity.
There are many problems that are associated with being a lottery winner. For this you need to check if your state allows you to claim the prize while being anonymous. There are 6 states which allows a Powerball winner to stay anonymous. These states are South Carolina, Delaware, Ohio, Kansas, North Dakota and Maryland. However, other states do offer ways to shield the identities of the winner.
- Financial and legal representation
Before you claim you prize it will be best to get good financial and legal representation. Each winner of this lottery of January 2016 had followed this method. Before stepping forward and declaring they won, each winner retained legal representations. As you will be dealing with a multi-million prize, you will need a team of experts that can help you to sort out things so that you can maximize your earnings. They will also help you to protect yourself. So, if you win do ensure to employ a lawyer, accountant, and also an investment advisor.
- Annuity or Lump sum
You have the option to receive the entire amount of your jackpot prize. But you will receive the entire amount over 30 years. You also have the option to receive money as a lump sum, but you have to accept a smaller amount of money and not the whole jackpot prize. There are advantages and disadvantages to each choice. You have to decide which one is best suited for you.
So, there was everything that you needed to know about Powerball. This is a lot more to this lottery. You can research to find out more. If you want to participate in this, then knowing everything about it will help for sure.