Hitting the jackpot: What to do if you win the Powerball

The Powerball Jackpot is worth an estimated $430 million. Dreaming of winning it is one thing but what if the numbers actually fall in your favor?

SAN ANTONIO - Jabeen Sadruddin believes Vista Express is one lucky store. Over the past 10 years, they've had a number of winners from the Texas lottery at her west San Antonio business.

On Aug. 5, they sold a Powerball quick pick to a customer who won $2 million. Their largest winner to date.

"I believe in the quick picks," she said.

Sadruddin expects customers to start lining up at her convenience store at 2002 Buena Vista taking a chance to win Wednesday's Powerball jackpot of $430 million.

The bouncing lottery balls carry the chance of wild expectations and fruitful dreams. So if the numbers fall in your favor what should you do?

Ohio attorney Bo Loeffler represents lottery winners. He offers these suggestions:

  • Make copies of the winning ticket
  • Secure the ticket in a safe or safety deposit box
  • Don't tell everyone you've won
  • Create a blind trust to claim your prize
  • Talk to a lawyer and accountant
  • Establish a temporary estate plan

Expect a chunk of the jackpot check to go towards federal taxes. If you live in Florida, South Dakota, Washington, Wyoming and Texas personal income taxes are not applicable.

Forty-four states including the District of Columbia, Puerto Rico, and the Virgin Islands participate in the Powerball.

Sadruddin is waiting for a day filled with anxious customers hoping to become instant millionaires. Some buying over a hundred dollars worth of tickets.

Meantime, lottery officials are still waiting on her last winner to claim the $2 million prize.

© 2017 KENS-TV


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