How I Will Handle My Lottery Winnings

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I’m a sucker for playing the lottery when the jackpot is over $1 billion. Even then, I just buy one ticket.

I admit to fantasizing about what I would do if I won.

First, I mentally prepare by assembling my team of trusted advisors.

Here’s my process.

Avoiding fraud

When huge sums of money are involved, the scams will be more sophisticated, fooling even those who should know better.

According to an article in The New York Times, attorney Jason M. Kurland developed a national reputation for helping lottery winners with their investments. He was known at the “lottery lawyer” and was even featured on the Today Show, discussing lottery winners.

In August 2020, Kurland was arrested and accused of working with an alleged mob associate “to steal millions of dollars from his clients.” Losses exceeded more than $80 million.

Kurland was a partner in a prominent Long Island law firm, Rivkin Radler.

On July 27, 2022 Kurland was convicted of fraud and money lawyering. He faces up to 20 years in prison.

Kurland never would have been part of my investing team. Lawyers have little expertise in investing. They are trained in the law.