MatcomNews Update - 94 Y.O. Lottery Winner NOT Allowed Lump Sum Payment

[matcom]

<snip>

BOSTON -- A judge denied yesterday a request by a 94-year-old Everett woman to force the state Lottery Commission to pay her entire $5.6 million winnings to her upfront.

A ruling by Superior Court Justice Barbara A. Dortch-Okara allows the Lottery to go ahead with plans to pay Louise Outing in installments over 20 years.

''I expected that," Outing said. ''I'll make out some kind of way."

Outing, a retired waitress who won a Megabucks lottery drawing in September, said she won't live to collect her full winnings. She wants to take care of her seven grandchildren, nine great-grandchildren, and six great-great-grandchildren.

''I'd like to get it and do what I want with it," she said. ''I'm not going to live 20 years. I'll be 95 in March."

Joseph Sullivan, executive director of the Lottery, said the rules are printed on the back of Megabucks tickets. Only the multistate Mega Millions game offers a lump-sum option, he said.

http://www.boston.com/news/local/massachusetts/articles/2004/12/31/lottery_winner_94_loses_in_court/

[kick-ass-bob]

1. Does her estate not get the winnings?

Then her grandchildren will still be taken care of...

[THUNDER HANDS]

2. I don't think so

I think the state gets the remaining portion once the orignial winner dies.

[kick-ass-bob]

3. she should just spite the state and live those 20 years

then the day after she gets the last check, keel over.

[trotsky]

4. So she can't even use one of those services?

Where if you are getting a legal settlement or lottery winnings in annuity payments, they'll cut you a check for a little less than what you would have made total and they get to collect the payments?

[THUNDER HANDS]

5. depends on her state

I'm sure different states have different rules about these sorts of things. But if she took them to court, I'm sure her lawyers probably saw that she was SOL with the current arrangement.

[NewJeffCT]

6. again, there are companies that handle these things

They give you a lump sum in exchange for assuming the annuity payouts... but, I'm not entirely sure how it works.

[tk2kewl]

7. whe she dies she should have her grandchildren bury her in the backyard

and just keep collecting IMO