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The smartest steps to take if you win the $700 million Powerball jackpot

By Kathleen Elkins

The jackpot for Wednesday’s Powerball lottery is now at $700 million, the second-largest prize in the game’s history.

On the off chance you hold the winning numbers, you’ll want to be smart about how you handle the windfall. After all, the CFP Board of Standards says nearly one-third of lottery winners eventually declare bankruptcy.

CNBC Make It spoke with Nick Holeman, certified financial planner at Betterment, who outlined five smart steps to take if you walk away with the jackpot.

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This article originally published August 23rd, 2017 on CNBC.