Lotteries don't pay out a lump sum. They pay X amount per year over the course of your life. If you die before getting it all, which happens often, that's just too bad.
just like social security !
You absolutely can take the cash option for Megamillions and Powerball, which is roughly half the advertised jackpot. The annuity is something I personally would only go for if it is under 50 million. Otherwise take the money and run because no one would be sympathetic if the lottery stopped paying your installments.
The only way to make sure someone you love gets it all is to get a life insurance policy for the total amount of the winnings, with level lifetime premiums or paid up in 20 years or something like that, and make sure you pay the premium every year, and hire people to make sure you and the beneficiary don't get ruined by this money.
I think it would be a bad life choice to take out a life-insurance policy on a billion-plus dollars in the name of anyone, loved or otherwise. Putting that kind of temptation in front of anyone, even a saint, is asking for trouble.
Especially when that payout is tax free.
(snif snif) "He juss fell down the stairs!!"
You request the lump sum and get about half
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