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Assemble a team of financial experts

Typically, lottery winners “don’t have the knowledge base to handle this large sum of money,” said Andrew Stoltmann, a Chicago-based lawyer who has represented several lottery winners. “It’s very similar to what we see with our professional athlete clients.”

That’s why it’s critical to find the right team of experts, including a financial advisor, accountant and attorney, he said.

The winner also needs to prepare for the “estate tax consequences” of the multimillion-dollar windfall, according to Warren Racusin, a wealth planning attorney and partner at Lowenstein Sandler.

Saturday’s Powerball drawing comes roughly 2½ months since a single ticket sold in California won the game’s $1.765 billion jackpot. Meanwhile, the Mega Millions jackpot is back down to $92 million and the odds of winning that prize are roughly 1 in 302 million.

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