Can Lottery Winnings Be Inherited?

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Unlike a lump sum, receiving an annuity ensures a consistent income for up to three decades You will typically have approximately 60 days to decide between

With an annuity you can spread your taxes out over a longer period of time rather than taking a big hit by accepting the lump-sum payment  According to lottery officials, most winners opt for the lump sum, or the “cash option ” In the case of the next Powerball jackpot of $

ohio lottery pick 4 evening This payment option is a contract between you and a pension plan, lottery, or other provider in which you receive your money in regular With a lump sum, on the other hand, any money left upon death would pass to the beneficiary's heirs This is less of a risk for lottery winners Lotteries