Overnight you are now responsible for assets larger than most transgenerational Irish businesses, but without the learning that comes from decades of triumphs and failures. It’s no picnic. Lots of Lotto winners go broke and there’s a reason for it.

Sure, there is a bullseye on your back and there are agendas everywhere, but there are also avoidable errors in thinking best learned in advance and not paid for along the journey.

Here’s my top ten:

1. Firstly where to put it?

There’s a reason why Ireland’s €14bn Apple Tax windfall is not held in escrow at an Irish bank. Deposits can get decapitated when banks fail, just ask the Cypriots. The European banking system isn’t out of the woods by a long shot. That’s why parking the loot across 50 global banks through an AAA Rated Euro Liquidity fund makes sense.

No Irish bank would qualify for inclusion in these top-rated funds, they are used to park institutional money and you should too, no matter how friendly the local branch manager has suddenly become.

2. Who should I tell?

As few as possible, even in the family. Let time pass for the frenzy to evaporate, then make moves carefully. This is a surprise, but expect many close friendships to fail, not because you’ve changed but because they have.

3. Can I lose it?

Look at personal safety and security especially from hacking, do an immediate review and get expert help.

Cyber criminals are stalking the unprepared and losses can be catastrophic if they intercept large scale money movements.

4. Will I stay or go?

It’s a shock, but you are unlikely to be able to stay living where you are now without doing so in near isolation. Think about a long holiday or emigrate for a few years if necessary coming and going from Ireland while you reconstruct your life.

5. What about the kids?

It’s an iron rule that handouts without conditions to your family creates dangerous dependencies and can wreck ambition. Think these through very slowly and carefully. Put off any major decisions for a year. Let everything reach chilling point before making any big moves with cash.

6. Who to trust?

Do not think that everyone is one your side, they’re not. Plans will be made to separate you from your win. Start with estate planning, get a good solicitor, pay special attention to the outer family and expect maneouvres. Huge money changes everything.

7. What to invest in?

Over the long run, do not concentrate your money in any single asset class like property or cash, spread very widely. Use top rated global custodians, to protect your money from the risk of asset managers going burst.

Capital preservation trumps risk at this level and timing is everything. Asset prices globally look very vulnerable to fresh global events just now so taking a year out fits neatly.

8. What to avoid?

Steer clear of retail financial products and salesfolk. With millions to invest you are in the institutional market, that means much cheaper prices, greater choice and specialisms.

It is why assembling a panel of asset managers makes sense, choosing horses for courses following advice not gut feeling.

9. What model will I use?

There’s no end of free commission-biased advice but its unreliable. Assemble a good professional team, solicitor, tax expert, investment advisor that will blend well together and task them with protecting you from capital losses, from tax waste, from making unsound decisions. Make sure you apply clear rules of engagement including for altruism and regular reviews and reporting.

10. Be careful of hubris.

Don’t think you are equipped with natural financial talent, no one is equipped to go from near zero to squillions overnight. You’ll need to learn how to manage, take it slowly, no need to rush, ask lots of questions, keep notes and add to your knowledge.

Look about the family to discern who is best to be on the inside team, to pass the learning to the next generation.

Eddie Hobbs is an Irish financial advisor and broadcaster.