I would say having to put your name out there, especially if it’s a large jackpot with the nation paying attention, is a very scary thing. You’re going to get bombarded by financial advisers and friends and family coming out of the woodwork. Remaining anonymous is also difficult, because you have all this newfound wealth, and if you are going to spend what you can, it’s sort of obvious to people. The biggest mistake people make is doing it on their own. All the horror stories you hear is when people do it on their own.
— Jason Kurland of Rivkin Radler, explaining why lottery winners need a lawyer and why they should try to remain anonymous if that option is available. Kurland first became known as The Lottery Lawyer after advising the 2011 Connecticut Powerball winner of $254.2 million, and has represented lottery winners of a collective $2.5 billion.
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Staci Zaretsky is a senior editor at Above the Law, where she’s worked since 2011. She’d love to hear from you, so please feel free to email her with any tips, questions, comments, or critiques. You can follow her on Twitter or connect with her on LinkedIn.