Winning a huge lottery jackpot is a life-changing experience.
Whether you win $500,000 or $1million, your future will probably start to look a little (if not a lot) different! You might quit your job, move to a new house, or even plan an overseas holiday. Changes like this not only affect your life but the lives of the people closest to you.
We’ve all heard the stories of divorce and family feuds after a big lottery win. Long-lost cousins appear out of nowhere and suddenly you’re the family member everyone asks to loan money from. All this can be taxing on even the closest family relationships.
In 2018 a Canadian lottery win tore a family apart when an aunt refused to agree that she would share her win with her nephew. The nephew insisted the win was to be shared between him and his aunt. What was meant to be an exciting event ended up with the two fightings each other in court.
Unfortunately, sometimes greedy family members even resort to crime. Back in 2005 things turned really bad for a US man Jeffrey Dampier Jr after he won a US$20 million jackpot. He remarried and was eventually kidnapped and murdered by his sister-in-law and her boyfriend who were found with a significant amount of money.
How do you maintain family relationships and stay friends after a lottery win?
Keep a record
While it may seem trivial and unnecessary now if you’re buying a ticket with family or friends it’s a good idea to write it down or keep a record of the details. Even if it’s a text message or an email, record how much each person contributed to purchase the ticket. Lawyers say that if you’re planning on sharing a lottery win with someone else, make sure you have an agreement beforehand.
You don’t have to tell the world, or your family and friends about your lottery win, it’s possible to remain anonymous.
If you win lottery with The Lottery Office we’ll keep your details confidential.
Don’t trust everyone. Just because they are family doesn’t mean they can be trusted. Greed can change people and even though they’re your cousin, aunt, or nephew, it doesn’t mean they have your best interests at heart.
Seek professional help
Don’t trust your financial decisions to just anyone. It can be a daunting and overwhelming experience winning a big lottery jackpot, so we recommend seeking advice from professionals such as financial advisors, lawyers, etc. If you do involve family or friends in your investment decisions and don’t also have some professional help it could turn out badly.
Don’t be too charitable
While it’s great to be generous, especially with your family and friends, remember, not everyone approaching you for money has the best intentions.
You may have become a millionaire overnight, but that’s no reason to let your manners or morals go out the window. Don’t let the money change who you are or you could be at risk of losing some of your closest relationships.
Don’t break the law
Being extremely wealthy doesn’t give you any special privileges to break the law. Acting like you’re above the law won’t win you any friends.
Don’t let it change you
You might be more frivolous with your money and be able to afford more in life, but there’s no reason why the lottery win should change you as a person. Of course, splurge and treat yourself, just don’t let the money go to your head and change the person your family know and love.
Change their lives
Spoil those you care about the most! Winning a lottery jackpot gives you a wonderful opportunity to change the lives of the people you love and show love and generosity by making their lives easier. Following these simple tips could help the next big lottery winners keep their family relationships and go on to live a happy and fulfilled life!
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