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Wednesday, January 13, 2016

So you've won the lottery - Now what? A guide to planning after winning the Powerball jackpot

So, you're holding a winning Powerball ticket.  Lottery officials have some quick tips about what to do next.
Sign your ticket and keep it in a safe place.  If you didn’t sign your lottery ticket right after purchasing it, you should do so now.  That makes the ticket yours.  Keep the winning ticket in safe place until you are ready to claim it, such as a safety deposit box.
180 days.  You have 180 days to claim you prize.  After that time, your ticket expires and you cannot redeem it for any winnings.
Where to claim your prize:
  • You must redeem your ticket in the state you bought it in.  If you bought your ticket in Wisconsin, you have to redeem it in Wisconsin.
  • Retailers can pay you for any prizes that are less than $600
  • You can come to the Lottery's Madison or Milwaukee offices for any winning amount between $600-$500,000
  • If you win $500,000 or more, you must come to the Madison Lottery office
Wisconsin Lottery Ticket Redemption Offices
Open Monday – Friday from 8:00 a.m. to 4:00 p.m.
Wisconsin Department of Revenue
2135 Rimrock Road
Madison, WI 53713
(608) 266-7777
Wisconsin Department of Revenue
819 N. 6th Street - 4th Floor Service Counter
Milwaukee, WI  53203
(414) 227-3882
Multiple winners on same ticket.  State law requires the Wisconsin Lottery to issue a prize to one player.  If you have purchased a ticket with others, you can get a court order that will tell the Lottery how to divide the winnings.  If you win, call the Lottery for more information about how to start this process.
Anonymity.  State law does not allow winners to remain anonymous in Wisconsin.  We are required by law to provide your name and city of residence, if requested.  We proactively publish winners on our website and Facebook pages as well.
Get expert advice.  Winning a large jackpot can be life-changing.  Be sure to get advice from professionals – such as an attorney and financial advisor – to help you with how to manage your winnings.

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