04-07-2007, 03:14 PM
[quote macphanatic]Never take the annuity. Typically, if the winner dies, the money is forfeited.
"What happens if you die before the 20 or 26 years are up? The answer varies by state. In California, as in most states, the annual payments continue to your estate and heirs. But that's worth checking. If the payments stop upon the death of the winner, then you are well advised to talk to a lawyer before you claim your winnings. A lawyer may suggest setting up a trust fund, so that payments will continue to the fund regardless of what happens to you – assuming, of course, that you want your heirs to get the remainder of the money rather than having the state keep it."
BGnR
"What happens if you die before the 20 or 26 years are up? The answer varies by state. In California, as in most states, the annual payments continue to your estate and heirs. But that's worth checking. If the payments stop upon the death of the winner, then you are well advised to talk to a lawyer before you claim your winnings. A lawyer may suggest setting up a trust fund, so that payments will continue to the fund regardless of what happens to you – assuming, of course, that you want your heirs to get the remainder of the money rather than having the state keep it."
BGnR