Powerball Dreaming? Steps to take IF you win

3:19 PM, May 15, 2013   |    comments
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GOLDEN VALLEY, Minn. - Americans are dreaming big again with the Powerball jackpot topping $360 million dollars.

It's the third largest lotto jackpot ever with the cash value listing at almost 230 million. The odds of winning are not great at 1-in-175 million.  You have a much better chance of getting struck by lightning or attacked by a shark.

However, we got to thinking, what would you do with that kind of money?  Someone who helps couples and families decide what to do with their money is Julie Krieger, Partner of Evercore Wealth Management, of Minneapolis.

Here are Julie's first thoughts-

1. Don't panic- Find out what the lottery deadline is to go public. Don't feel pressured to make an announcement if you're not ready.

2. Find a trusted advisor- This would be an expert in investments and tax planning.

3. Think of strategies- What would be your immediate family's needs? What are your tax structures? What are your charitable goals?

With these key steps in place, you are ready to let the world know... You've won!

Julie Krieger is a partner and wealth advisor at Evercore Wealth Management, responsible for delivering comprehensive, multi-generational wealth management and planning advice to the firm's clients in the Midwest.

Julie is also the co-manager of the Midwest office. She has 27 years of experience in financial services that include working with high net worth individual and family clients throughout the region.

(Copyright 2013 by KARE. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

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