04-07-2007, 12:43 PM
Never take the annuity. Typically, if the winner dies, the money is forfeited. Second, you never know what is going to happen with the tax rate. Third, if invested wisely the investment income will equal or exceed the annuity. The key is to hire a good financial planner before claiming the money. Have a plan as to what you are going to do. And don't show up in person to collect. Why anyone would want their name/photo blasted around the country is beyond me.
Personally, I would designate both of my sisters as 10% stake holders in the winnings, start a trust fund for my kids, give to certain charities, and invest the rest. And maybe a new Macbook Pro.
Personally, I would designate both of my sisters as 10% stake holders in the winnings, start a trust fund for my kids, give to certain charities, and invest the rest. And maybe a new Macbook Pro.