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Originally Posted by WebairGerard
if you die before payouts are complete I don't think family memebers get money? this could be a reason people take lump sum too. If in fact this is the case I would take lump sum and invest a good portion of it to assure payouts on my terms and my children/family getting money if die and not the government.
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"Some large lottery prizes pay out over a period of several years. What if the holder of this type of prize dies before collecting it all?
In this case the prize is considered to be part of the estate and is passed along to the winner's heirs. Contrary to popular belief, the prize does not revert to the government. The only exceptions are "win for life" games where a prize is guaranteed for the rest of the winner's life. In this case the payments stop with the winner's death."