Here's what you should do if you win the $1.6 billion Powerball jackpot, according to experts

The Powerball jackpot is currently the largest in history, and experts say there's a list of things to do if you happen to win.

Jaysha Patel Image
Saturday, November 5, 2022
Here's what to do if you win the $1.6 billion Powerball jackpot
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The Powerball jackpot is currently the largest in history, and legal experts say there's a list of things to do if you happen to have the winning ticket.

LOS ANGELES (KABC) -- The Powerball jackpot is at $1.6 billion, the largest in lottery history, and all eyes are on the prize after nobody won Wednesday night.

On Friday, some people were seen buying a Powerball ticket for themselves while others bought tickets for work friends or people they know.

READ MORE | Powerball jackpot climbs to $1.6B, setting new lottery prize record ahead of Saturday drawing

So what happens if you win the Powerball jackpot?

Brian Kabateck, a managing partner at Kabateck LLP, said beware of being a part of a pool. They're often based on an oral, not written agreement to split the money.

Kabakteck said the best thing to do is have a written agreement and witnesses.

"Staying anonymous is the best thing to do," he said. "Before you even claim the ticket, put together a pool of experts lawyers, financial advisors, tax advisors, people that can tell you the best things to do and the best decisions."

He also said if you happen to have the winning numbers for the jackpot Saturday, put the ticket in a safe place and contact a lawyer.

"Take a little precaution to protect yourself," said Kabateck. "It's going to give you a lot of peace of mind. You know the old saying, 'Why is it that there was never time to do it right the first time, but plenty of time to fix it later.'"

A drawing will be held Saturday night for the Powerball prize, which hasn't been won in more than three months.

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