2. Before you cash a ticket, seek out advisors. “There are attorneys, financial advisors and trust officers who have expertise in dealing with the legal, financial and tax implications of winning the lottery,” said McNay.
3. Take the payments over 30 years instead of the cash option. “Although more than 90% of lottery winners take the cash option, there are a number of financial planning and tax advantages to taking payments over time,” said McNay.
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