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Step 1: Keep mouth shut
Step 2: Meet with CPA, CFP/Series 7/66/3 broker, estate attorney.
Step 3: After taxes 1B cash payout you'll net 500mm after taxes in most states.
Step 4: Pay all debts off (unless you want to keep credit score high-keep mortgage.
Step 5: Diversify and live off interest and leave principal alone
50m in gold/silver/jewelry/art/firearms/collectibles, 5mm in cash (3mm US, 1mm in your back up country, 1mm in other sound countries) etc
50m in tax free muni bonds (or up to 250mm)
50m in taxable munis
50m in taxable Agencies 50m in CMOs for monthly cash flow. GNMA safest
50m in 2yr UST (yields higher than 10 year currently)
50m in Blue chip stocks that 1) pay a dividend, 2) too big for China to mess with and 3) too big for Soros to muck with
50m (10%) in a charitable trust for charities....pay yourself a fee since you run it.
50m in Corporate bonds or convertible stock...again in companies that China and Soros cant mess with.
Finally, 50m in YOU. That means if you are young and want to work, use that money for you. Want to fly? Hell buy a plane and learn how to fly it. Heck charter it or use to fly sick kids around. Build a big hanger. Wife likes to garden? Buy her a big ole garden center...the best in town. Into guns? Buy the biggest gun store your market will support and teach people about freedom.

Step 6: Be happy, quiet, and give thanks to God. Now go out and make a difference in peoples lives!

It’s more complicated than that. Simply to take possession of the winnings, you need a bank with a top notch wire room and investment services, as everything at first will have to go straight into repo agreements. Before you can do that, you have to line up a hefty liability umbrella. To minimize the tax bite, you need to form an llc to receive the funds, including both individuals and charities. You need to get your foundation set up. Forget about keeping more than $30-$50 million for yourself, as you’re looking at a giant estate tax problem. Unless you want the government to be your heir. You need plans for investment and spending, to be handled by people more knowledgeable than your high school buddy. Unless your plan is to piss it all away, dying as a result of your new friends and lifestyle, or else from someone who wants to take what you have, you must understand that great wealth is a serious burden of stewardship. Even giving it to charity is hard work, as you’ll need to have grant proposals, benchmarks for proper use of the funds, and proper documentation throughout to keep the IRS off your back. While I’d love to win, I have no illusion about what a monumental labor it would be. Especially while striving to remain anonymous.