Won the €250m Euromillions jackpot? Top tips on how to handle sudden wealth

Heather Randles has some advice for whoever won the Euromillions in Cork a fortnight ago — and indeed anyone who comes into a substantial amount of money 

Celebrations at Clifford's Centra after the store sold Ireland's biggest ever Euromillions jackpot. Heather Randles advises careful planning whether your windfall is €2m or €250m. Picture: MacInnes 

News that the winning €250 million Euromillions ticket was sold in Cork has triggered the usual speculation about what people would do if they had won the €250m. But a much harder question is how to manage sudden wealth on that scale.

The odds of hitting the EuroMillions jackpot are 139m to one. For those who do, what comes next? One-third of big-ticket lottery winners ultimately declare bankruptcy. That sobering fact isn’t meant to dim the shine of any winners. Rather, it’s a reminder: Wealth needs careful handling. The reasons for bankruptcy are rarely dramatic.