Powerball fever is running high in Monroe County for tonight's lottery drawing. The record-shattering 1.5 billion dollar jackpot has everyone feeling lucky. But before you start dreaming about spending the money, officials say it's important to establish a team that includes an attorney, accountant and financial advisor to come up with a plan. If you take the cash at 930 million dollars, there's still a lot of taxes to worry about.
CPA and Shareholder Philip Pope of RLB Accountants says, "Put it in the bank. Even if it's earning one percent interest at a bank savings account, money market account, on a 900 million cash payout that's nine million dollars a year in interest alone."
Besides there's going to be a lot of people wanting to share your wealth. Officials say it's a good idea to defer to your team so you don't have to deal with the hurt feelings.