PORTLAND, Ore. (KOIN) — Everybody has a different idea of what they would do if they won the lottery, but here’s one word of advice: hire a lawyer.

On Sunday morning, the Oregon Lottery announced the winning $1.326 billion Powerball ticket was sold in Portland on Saturday. The winner, who has yet to be announced, now has one year to claim the prize. Afterward, they have 60 days to choose between a one-time cash payment or 30 annual installments.

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But before the winner signs their ticket, Kurt Panouses — an attorney and certified public accountant — advises them to find a “lottery lawyer.” This is because whoever signs an Oregon lottery ticket is required to identify themselves, which could make them a target.

Although Oregon prohibits limited liability companies and trusts from claiming the jackpot, other groups of people can.

“I ask the clients, ‘Where do you see yourself a year from now? Who would you have helped out a year from now?’,” Panouses said. “Maybe we need to incorporate those people in the win, so instead of there being just one winner, one individual, maybe we have a group which also goes along the lines of being able to be anonymous, because you would have one representative for the group.”

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In these cases, the attorney encourages winning ticket-holders to have family and friends sign a non-disclosure agreement before they learn about the jackpot.

“There are some really fun times and there’s really some somber times when you thought you knew that you were helping out someone, and that turns out to be a negative,” he added.

In regards to the choice between a one-time lump sum or 30-year annuity, Panouses said most financial investors would suggest the singular payment that immediately withholds 8% in state taxes and 24% federal taxes.

According to the attorney, the main people who should consider annuity are younger winners who are concerned about spending the jackpot irresponsibly.

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But as a lottery lawyer, Panouses said he aims to figure out what’s best for each individual winner.

“Many people have never dealt with this kind of wealth before, so they want to make sure that they’re comfortable,” he said.

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