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Can you divide a large winning this way?

Topic closed. 3 replies. Last post 6 years ago by Todd.

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Surfside Beach, SC
United States
Member #107059
March 1, 2011
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Posted: March 1, 2011, 5:16 am - IP Logged

Say you won the Mega Million jackpot, and you are the only winner.  Will they divide the prize for you if you request?  What I mean is, can you take half cash, and ask for them to put the other half in an annuity for you, with you getting a check each year for 26 straight years?

 

For example, say you won tomorrow's drawing, for 88,000,000.  Can you ask for half the cash (44 million, but the cash value is only 27 million, and after taxes it's down to around 18 million), and ask for the annuity for the other half (which would give you around 1,167,000 a year for the next 26 years).

 

Do they allow that?  Or must the winner totally commit to either the cash or the annuity?

    time*treat's avatar - radar

    United States
    Member #13130
    March 30, 2005
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    Posted: March 1, 2011, 5:38 am - IP Logged

    My guess would be that you'd have to do one or the other. Of course, after taking the cash, you could put as much as you wanted of it into an annuity.

    In neo-conned Amerika, bank robs you.
    Alcohol, Tobacco, and Firearms should be the name of a convenience store, not a govnoment agency.

      dallascowboyfan's avatar - tiana the-princess-and-the-frog.jpg
      Oklahoma
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      November 12, 2009
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      Posted: March 1, 2011, 8:14 am - IP Logged

      I believe it's one or the other as well.....like time*treat said once you have the cash you can invest it as you wish including annuity..... seek advice first to make sure this is your best option...

        Todd's avatar - Cylon 2.gif
        Chief Bottle Washer
        New Jersey
        United States
        Member #1
        May 31, 2000
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        Posted: March 1, 2011, 8:27 am - IP Logged

        <Moved to Jackpot Games forum>

        Please post in the appropriate forum ... thank you.