With all the buzz regarding the lottery, what do you think would happen and what would you do if you suddenly took home $500+mil?

I'm always astounded by how many lottery winners file bankruptcy. Obviously, the old saying "Giving someone a lot of money does not make them good with money" is quite true. But what baffles me is that so many of these people do not even have the slightest clue as to how to proceed? I mean, wouldn't you think that you should probably be speaking to a CPA, Attorney and Financial Planner before making any moves at all? Properly invested, anything greater than $5 mil should be able to provide you with a return that would keep you comfortable. In most cases ($10+ mil) I don't see that many reasons to even touch the principal. I have no sympathy for people who burn through that kind of money and then 2 years later they are on late night TV telling everyone not to do what they did, Duh.

If I suddenly won $500+mil?
1. New home: Here in So Cal near the beach... $3-5 mil. It's just me and my wife. We don't need an "estate"
2. New car: Probably a large model SUV ($85k?). I don't need a Ferrari. I wouldn't buy a Ferrari. Although I know my wife wants a Porsche $135k
3. Gifts: We have 12 immediate relatives that we would initially give the maximum gift of $14K to = $168k.
4. Then a cooling off period.

That's only approximately $4.3 mil and the majority of that is due to the new home purchase.

To win that kind of money and then find yourself broke is just ridiculous. What a waste. You should be ashamed of yourself.