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Old November 27 2012, 10:14 PM   #49
Chaos Descending
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Location: Grand Canyon State
Re: Powerball. What could you do with a 425 million dollar lottery win

sojourner wrote: View Post
Last time I checked, no. If you die, any remaining unmade payments revert to the lottery commission.
Not true.

"WHAT HAPPENS IF AN ANNUITY PRIZE WINNER DIES? The estate will handle the lottery prize. A lottery annuity prize is just like any other asset. You can pass any remaining annuity payments on to your heirs or to anyone else. The Powerball game will even cash out an annuity prize for an estate. This may make it easier for the estate to distribute the prize. It also may be necessary to cash out the annuity to pay Federal estate taxes. We will sell some or all of the securities at competitive bid or will even just transfer the securities to the estate. We do not charge a fee of any kind. I think that this misunderstanding may come from the response that the prize "goes to the Estate" and some people hear "goes to the State.""
"Romanes eunt domus"
- Brian
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