Financial advisers on what you should do before joining a lottery pool

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PENNSYLVANIA -- The record-breaking Mega Millions jackpot has many York County hopefuls buying multiple tickets for a chance to win the big bucks together.

"I would have no idea what to do with all that money," said Michele Golden, Mega Millions ticket buyer.

A spokesperson with Front Street Financial in Harrisburg says there are some things to keep in mind before joining the pool.

“I have heard of situations where you know they bought three tickets and this person says no this ticket is mine and you guys are on your own," Michael Mcconahy, owner and financial adviser at Front Street Financial.

Experts suggest obtaining a legal document outlining how the money will be divided as well as who will be in charge of managing it all.

“Otherwise you’ll have a bunch of individuals trying to decide I want this person or I want this person in charge that would create a lot of havoc," added Mcconahy.

If you bought a ticket on your own and happen to have the winning ticket, experts suggest seeking professional financial guidance.

“I already have some things in place my mom is an accountant, I’ve got good faith in this," said Joey Hobbs, Mega Millions ticket buyer.

“Just want to make sure I’m going in the right direction so I don’t do something wrong with my money," said Raymond Kontz.

That's where financial experts come in.

“To make sure you make good and correct decisions and don’t make any rash decisions right away like going out and spending a lot of money and buying things you may not be able to afford," said Mcconahy.

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