Search

Inheritance of annuity payments??
I searched and found this same question posted last year...2 replies and neither provided an answer....I have a dis-agreement with a co-worker...he says that,if a lottery winner,who is receiving annuity payments,dies,the remaining payments go to the state,lottery corp or somewhere other than to their heirs...is this true in some instances?...I did find info to contradict this in some states but we were argueing specifically about Georgia...thanks...:>)
Jul 5, 2004, 11:55 am - Gambler77 - Lottery Discussion Forum

Lotto Winners Lounge - Caviar, Champagne and fun!Reply
The poll question was what was your biggest win? (not lottery, casino, publishers clearing house, inheritance, etc.).
Jul 26, 2012, 4:51 pm - mcginnin56 - Lottery Discussion Forum

Does anybody else disagree with graduated annuities?Reply
You might want to check on inheritance taxation with that kind of money. I understand it has been stopped for 2010 on inheritance tax. Might kick back in in 2011. From what I read the tax is pretty stiff. 50% or better I heard.
Jan 23, 2010, 5:37 pm - JAP69 - Lottery Discussion Forum

What about taxes on remaining Anuity?Reply
We weren't talking about an inheritance, dvdiva. The question was on who pays the taxes while an annuity is growing in value.
Aug 26, 2007, 1:22 am - justxploring - Lottery Discussion Forum

Lottery player/winner advice ?Reply
lotteryinfopls: What if any of the 9/11 victims had recently won the lottery, and they chose annuity, and their heirs had to pay inheritance tax within 10 months of the winners' death, and the heirs did not have the money to pay the inheritance tax for the remainder of the annuity payments? The $28 million winner in Illinois probably went against expert financial advice. Be thankful almost all US lottery jackpot games give you a choice. When the 1990s began, NOBODY was allowed to choose. Choo
Sep 10, 2002, 7:10 am - CASH Only - Lottery Discussion Forum

Lottery Jackpots And Tax HavensReply
Which is a concept not everyone believes in. As the source of lottery winnings is usually government-adjacent I doubt you can successfully siphon that money out of the country. Titpon failed. It's not black money from illegal activity, the government already knows the source and will take its' cut. As for Europe there is no point as winnings aren't taxed. I cans ee using a tax vehicle for inheritance purposes, but again, there are more attractive ways to do so. One could just move to
Apr 8, 2016, 10:49 am - MaximumMillions - Lottery Discussion Forum

Random Observations & Things To PonderReply
The annuity doesn't end with your life, the remainder of the payments is still with the annuity which is part of your estate but your heirs would have to pay a hefty inheritance tax on it. If I won an American jackpot that was large enough, I would consider the annuity payments even though my Doctors expected me to die years ago however it would be through a blind trust both to preserve anonymity and to avoid inheritance taxes. Interestingly, there is one game in Western Canada called PayDay
Aug 25, 2010, 11:50 pm - jwhou - Lottery Discussion Forum

The Lottery Changed My Life TLCMLReply
Yes they did. I liked the idea of the Jubilee year where your inheritance was given back to you, all was forgiven . Cities of refuge was another.
May 27, 2017, 11:13 am - noise-gate - Lottery Discussion Forum

Wealth accumulationReply
Exactly. Have that plan by the time you collect, made with the advice of financial experts. They can tell you how much to expect in earnings off your win and help with a budget. You have to determine your life expectancy and how much if any do you want to leave your family when you pass, along with what inheritance taxes will take from that or how to avoid inheritance taxes. I've already decided that unless I have $10m in the bank after taxes, setting myself up with new house car, and gift
Apr 4, 2015, 11:12 am - Piaceri - Lottery Discussion Forum

Do you get mad when others win the lottery?Reply
No kidding, right? I'm usually happy for the winners. But I get annoyed when someone like 84 year old Gloria win $300 MILLION AFTER taxes. The only person who makes out in cases like that are their kids who get a very nice inheritance and Uncle Sam when collecting a death tax!
Jun 19, 2014, 1:58 pm - SammyJoe10 - Lottery Discussion Forum