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Aug 1, 2016 4:44 PM

Did you win $487 million? 7 tips NH Lottery says to consider before coming forward

A Powerball ticket worth $487 million before taxes was sold at a Raymond Hannaford prior to Saturday night's drawing.

The winner has yet to come forward, but The New Hampshire Lottery has sent out a list of tips for jackpot winners to consider after striking it big:

1. Sign the ticket—the New Hampshire Lottery only pays the person who signs the back of the ticket.

2. Move to New Hampshire. "All kidding aside, if the winner is from out of state, they should seriously consider moving here. With the state's gambling tax repealed four years ago, New Hampshire Lottery winners avoid all state taxes, which, on a prize as large as $487 million, could save the winner more than $20 million compared to what they would pay in neighboring states, where a 5 percent tax is assessed to lottery prize winnings. Take some time to find a residence in the Granite State before claiming the ticket," said Charlie McIntyre, executive director of the NH Lottery Commission.

3. Talk to a lawyer—an attorney can provide strategic guidance.

4. Meet with a financial professional—someone experienced working with large sums of money.

5. Know who your friends and family are now—"Everybody you knew from the third grade on will be calling you," McIntyre said. "Make sure you know who the people are who are important to you before you claim that prize."

6. Take some time to let it sink in before claiming. "Plan first before you come in," McIntyre said. "We can wait a whole year, not that we want to. Take some time to fully grasp the situation, and try to think about what you want to do with the money."

7. In the near-term, try to go about your daily activities as best you can. "It is difficult to keep a secret like this, but we suggest trying to keep things as low-key as possible as you figure out what to do with the money," McIntyre said.

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