Annuity vs. Cash Option

Reply #4

visiondude — Thu, 23 Jan 2003 02:11:35 GMT

old hank,you are wise

Reply #3

CASH Only — Thu, 23 Jan 2003 01:58:09 GMT

Hank: I live in NY and it's the same here; you MUST choose lump sum/annuity when you PLAY, and you _cannot_ change your mind should you win. I presume you prefer the lump sum (hope Andy didn't brainwash anybody into the annual payments).

Reply #2

OldHank — Thu, 23 Jan 2003 00:15:00 GMT

Thanks, Ms Emily. Yep, if I win more than I spend, I consider that pretty good.I forgot to mention something in my original message. I have been told (hear-say, you understand) that EVEN if you take annuity, you need to set up a TRUST and collect the winnings in it. That way, the payments are made into it, and can go to your heirs, or whoever you choose, even if you are long-gone. Which means: if the winner dies, the money keeps coming, it doesn't stop at the moment of death.I'm not an expert... [ More ]

Reply #1

emilyg — Wed, 22 Jan 2003 23:31:55 GMT

old hank - completely agree with you. cash or annuity - that much more than before winning.

Annuity vs. Cash Option

OldHank — Wed, 22 Jan 2003 23:17:49 GMT

Been readin' most of this stuff about this subject.Sometimes I forget to mark the CASH box and sometimes, not. I'm not going to reject my ticket, if I didn't mark it. As the Dude says: if I'm meant to win, I will , no matter WHAT box is marked.Now, the way I see it, IF you win and you didn't take the CASH option, and THAT mistake that you made is more stressful than you can handle, then by all means: GIVE YOUR TICKET TO SOMEONE ELSE WHO DOESN'T GIVE A DARN ! Lighten the load on your... [ More ]