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Just won the lottery? Here's what you should do next

Great news, you just won the lottery! But now what? Here are some tips from State Farm to protect yourself and your winning ticket!

CHARLOTTE, N.C. — Did you just win the lottery? Great! Here are some tips from State Farm on what you should do next to protect yourself and your winning ticket! 

Before turning in the winning ticket

State Farms says before you even turn your winning ticket in, make several copies of both sides to show your lawyer and/or accountant, and then lock the actual ticket away in a bank safe deposit box or a secure personal safe.

State Farm also says you should protect your privacy. Even though it might be tempting to tell everyone you know you just won the lottery, officials say it's best to just keep quiet. 

"Keep it as much to yourself as possible, especially before turning in your ticket." 

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Once you have your money

Now that you have your money, what now? State Farms says you should immediately bank it. But don't just show up with a check for millions of dollars. Talk to the bank's upper management or private banking department ahead of time to discuss the best options for holding large amounts of money.  

And while it may sound silly, you'll also need to set up a budget. 

"Sit down with your advisors and take a hard look at how much you really have after federal, state and local taxes; what new annual expenses you'll have (for things like property taxes and upkeep and paying your financial team); and how much you want to give to charity." 

Playing the lottery is a form of gambling. If you are concerned about your gambling or worried about a friend, you can call the NC Problem Gambling Helpline at 1-877-718-5543. You can also contact the National Helpline at 1-800-522-4700.  

Maintain your perspective and sense of self

You know the old saying, "don't quit your day job?" Well, officials say you should actually listen to that advice.  

Depending on how important work is to your sense of self, you may want to try a new career or go back to school to study something you've always been interested in.

Click here to read more from State Farm.  

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