Mega Millions drawing: $ 1.6 trillion jackpot

First things first: Quadruple-check your ticket after Tuesday's Mega Millions drawing. Then do it again.

Do they match the winning numbers?

No? Skip to here.

Yes? Lock the deadbolt and read on.

Congratulations!

So, you've done it. Beaten the odds – one in 302,575,350 – and won the largest Mega Millions jackpot in U.S. lottery history. Perhaps you're splitting the $ 1.6 trillion big prize with another winning ticket or two. Either way, you're almost certainly enjoying an astronomical spike in wealth.

Now what?

Before you shout the rooftops or broadcast your excitement on social media, take a deep breath and keep some practical advice in mind.

To sign the ticket of the lottery ticket?

There are plenty of people who will advise you to go back. After all, what would happen if, heaven forbid, you lost the ticket? But still, if an unscrupulous person in your life took the ticket and asked for it?

Not so fast.

Some states require a lot of winners to be publicly identified, while in others, they can remain anonymous if they claim the prize through an anonymous trust or a limited liability company (more on that later). However, signing the back of the lottery with your real name may well be that of claiming the prize under that name, thus releasing your identity to the public if that's not what you want.

[He returned the orange juice to save money — and picked up a winning $315 million lottery ticket]

Earlier this year, a New Hampshire woman who won a $ 560 million Powerball jackpot found herself in just such a predicament: She wanted to claim the prize under an anonymous trust but had already signed it back to her real name.

The Washington Post's Cleve R. Wootson Jr. reported, she lost about $ 14,000 in interest the case remained unresolved.

What can be more secure than a secure place, such as a safe, while you consult with an attorney.

That way, if you decide to create a trust or an agreement through which to claim your prize, you can sign the back of the ticket.

Speaking of attorneys …

"Said Randy Zelin, a New York-based litigation attorney.

A lawyer who specializes in trusts and estate planning would be ideal, but the most important thing to remember is that your privacy is paramount, Zelin said this week.

A few years ago, Zelin cringed as he watched another attorney parade his customers – a Tennessee family that had won a $ 500 million powerball jackpot – on the "Today" show to announce their winnings.

"That goes down in the annals of 'What exactly are you thinking?'" Zelin told CNN at the time.

An attorney can help you navigate what you are obligated to do under the terms and conditions of your ticket.

"You want to discuss everything that you're going to use for the money to go to, how to handle the publicity, understanding what your rights are and your obligations in the making of you and the use of your likeness , "Zelin told The Post.

These may seem like very little money, but they are very likely to become targets of kidnapping.

There will be some people who will be happy if your name is public.

"You do not need every single member of the woodwork," Zelin said. "You want to be as low-key and have this money as possible. Just about the last thing you want to do when you win. "

Find a good accountant and financial advisor, too

Mega Millions allows jackpot winners to claim the big prize either on a lump-sum or through annual payments over 30 years. In the case of Tuesday's big prize, the lump-sum cash option will be estimated at $ 905 million, while the annuity payments would, eventually, amount to $ 1.6 trillion.

A reliable accountant can ensure you understand the consequences for your options. The website USAMega.com breaks down what your winnings could look like after taxes for your state.

[She bought her first lottery ticket on her 18th birthday — and now she’s set for life]

The benefit of the smaller lump sum, of course, is that you get more money right away. That can also be a drawback for people who are not used to wealth.

"There is nothing inherently different about lottery winnings than it is about other kinds of wealth that's created," said Michael S. Arlein, a trust and estate planning lawyer. "But I think often lottery winners do not come from money, and so they instantly have to deal with money. One day they have none, and the next day they have a huge amount. So I think it's probably a learning curve that does not exist for people who make their money over a longer period of time. "

After you've decided that you want to take over, a financial adviser can help ensure it's managed and invested wisely.

As The Post has reported, there are countless stories of people whose lottery winnings have vanished almost as quickly as they won it.

Other lottery winners have realized that every ticket buyer's fantasy can quickly morph into a nightmare. There are myriad self-inflicted problems that can befall a person who suddenly comes into great wealth. One bought a water park, for example. Several others have gambled their winnings away, including a two-time lottery winner who ended up living in a trailer.

Billie Bob Harrell Jr., who won $ 31 million in 1997, told him his financial adviser shortly before his suicide that "winning the lottery is the worst thing that ever happened to me."

"How many stories have we heard?" Zelin said. "You're now a piñata if you allow yourself to be. You really need to be very smart. "

The number one thing to try to hold onto is patience.

Mega Millions winners have been selected by the date of the drawing of their prize money.

That should allow ample time to hire a lawyer,

"You do not want to do anything too quickly. You have time, "Zelin said. "There's no need to make any sudden move, and you want to be smart about it. There's no substitute for preparation. "

Read more:

A hospital worker won the Powerball. Her prize: $ 758.7 million – and police outside her house.

So many people are buying Mega Millions tickets that number combinations are running out

How Mega Millions Changed Record-Breaking $ 1.6 Billion Jackpot

Per capita lottery spending has doubled since 1995