It turns out that in 2015, trick-or-treat may be a real treat for lucky Powerball lottery winner. The Powerball lottery is now up to an annuity value of $127 million. No jackpot winners came from Wednesday’s drawing, so now Saturday’s current estimated jackpot has risen to $127 million in annuity value — or a $79.7 million cash value. That might make for one great Halloween. If someone wins this, that winner is instantly wealthy. Sadly, a winner who does not take precautions could be broke in a few short years.

24/7 Wall St. wants its readers, particularly those few who are lucky enough to win the lottery, to avoid some of the simple and complex mistakes that have taken other lottery winners into bankruptcy. Some lottery winners have even died. So 24/7 Wall St. has offered up 12 key things not to do if you are a lottery winner.

Imagine becoming vastly wealthy overnight. That is what comes after being a winner of a multi-million dollar lottery. In almost all cases, this would be a life-changing event. But winning an instant prize of $10 million, $50 million or almost $80 million also demands serious responsibility. Now imagine being Joe Somebody, turning into Sir Joe the Magnificent overnight, and the imagine that Sir Joe could become Joe the Village Idiot in a very short time. Many past lottery winners have ended up broke in a few short years.

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We have reviewed research papers and financial planning tools, as well as have seen other articles on the matter about those who land in instant riches against all odds. So why are many lottery winners ending up broke? It is because they fail to plan, so we are giving you they keys for what you should not do — because many are finding the to-do-lists too difficult to live by. Some people just cannot help themselves in avoiding the pitfalls of instant wealth.

Despite the many to-do-lists, there just is not much out there on the pitfalls to avoid. Avoiding these actually may steer the winners right without much extra effort at all. Some of our considerations that lottery winners need to consider are as follows:

• Did you know that you might become a target or a mark if you are a lotto winner?
• It was hard to spend $30 million in 30 days in “Brewster’s Millions” during the mid-1980s, but you can blow through $30 million today in one phone call.
• Your character always matters, so skirting debts or instantly thinking that you are the master of the universe can come with serious blowbacks.
• Being your own financial advisor and tax consultant is crazy at this point. Having your drinking buddy or your family members throwing all their business venture ideas is also a serious risk.
• Oh, and what do you do in the hours and days after winning the lottery?

These and the key points are all shown and open to the public in the 24/7 Wall St.’s 12 Things Not to Do If You Win the Lottery!

Many other topics have been updated around the lottery. They are all true, even the hard to believe instances. Here are several lotto updates of recent times:

• NO WAY! $50 million lotto ticket was unclaimed!
• The Friday the 13th $425 million lottery
• Many people will still keep working even after winning the lotto.
• Is the lotto really an idiot tax?
• Illinois sued over not paying lotto winners.

ALSO READ: 12 Things Not to Do If You Win the Lottery

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