FOX5 Vegas - KVVUIf you win Mega Millions what should you do?

If you win Mega Millions what should you do?

Posted: Updated:
PRIMM, NV (FOX5) -

Optimism is all you'll hear through the air at Stateline.  Everyone says they've got the winning ticket.

The line to buy a Mega Millions ticket and a shot at $540 million was over five hours long Thursday.

It's plenty of time to daydream about what you'd do with the cash, $240 million after taxes.

If you did win it what exactly is the correct first step?

Tony DePasquale of Elysian Private Wealth in Henderson, manages the funds of two previous lottery winners.

"Going up to the podium accepting the check, my first step would be hiring a family representative, be it an estate planning attorney or a trusted financial advisor."

You should then disappear.

"Try not to go out and give the big interviews.  Try not to go out and be seen in the public as much as possible," says DePasquale. 

Next step?  It's pay off your debt.

"What are your liabilities right now?  Do you have the mortgage?  Do you have the car payments?  Do you have the credit card bills?"

You can then start spending, but don't be an idiot.

"They get drunk and they wreck a car, and instead of going to jail, now you're going to jail and facing a $20 million lawsuit," says DePasquale.

Copyright 2012 KVVU (KVVU Broadcast Corporation).  All Rights Reserved.