Expert gives financial advice ahead of Powerball jackpot

With the Powerball jackpot currently sitting at a massive $1.5 billion, a Brooklyn financial expert has some advice on managing such a large amount of money. Estate attorney James Cahill says the first

News 12 Staff

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Jan 13, 2016, 5:19 AM

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Updated 3,311 days ago

With the Powerball jackpot currently sitting at a massive $1.5 billion, a Brooklyn financial expert has some advice on managing such a large amount of money.

Estate attorney James Cahill says the first thing to do if you win is to try to tell as few people as possible.

"The problem [with] winning such a large amount is you suddenly have so many more family members and so many more friends than you ever could have envisioned," says estate attorney James Cahill.

"The second thing we would do is set them up with the basic set of state planning documents to make sure their spouse and children have trusts set up," he says.

The Powerball numbers will be called Wednesday night.