If I ever win a big jackpot, I'm going to ensure that I put a large chunk in some kind of investment that I can't get at it. Just the interest would be released to live off of.
That way, when the rest of the money is gone, I can truthfully say that I don't have any accessible money to give when every/anyone comes out of the woodwork.
I’m going on the assumption I win big; as in millions and millions, more than I could ever possibly spend in my lifetime.
That being said, first thing I’d do is find a good attorney AND call my mom’s awesome financial advisor; get all my ducks in a row, change my phone number, etc. THEN notify the lottery commission I’m the one and only winner.
After that I’d do the following:
Pay off ALL my debt
Pay off mom’s (mortgage)
Buy a house, furnish it, etc., and indulge in all those things I want to, but can’t i.e. regular trips to the spa for facials, a private trainer, and so on.
I’d then invest whatever was necessary for me to have a good income for the rest of my life, and allow me to do whatever I want (including the above list) ; i.e. not work, volunteer, work PT, travel, and never have to worry about money ever again.
Share with family and friends, but I’d set it up in such a way that they get so much, and after that, the well has run dry.
Whatever is left over, give to charity.
If I won smaller, say 100 or 200K – I’d pay off my debts, and buy a new car, then invest the rest.