2007-07-02 18:54:19 · 6 answers · asked by jay 2 in Business & Finance ➔ Taxes ➔ United States
One of you sighted a texas law,thats fine,but i dont live in texas,im this state they DO NOT pay the remaing anuity to the estate. the state keeps the remaining portion.I know this,my brother won the lottery 8 years ago,he passed away in an accident last year.the state of florida kept the owed balance.How is that legal?or right? it wasnt their money to begin with.
2007-07-04 07:28:44 · update #1
because the government wants to screw us however they can.
2007-07-02 18:57:08 · answer #1 · answered by neverdugdisco 7 · 1⤊ 2⤋
Someone's pulling your leg.
If you die before the annuity is paid out, the remaining money is paid to the winner's estate.
2007-07-03 15:27:22 · answer #2 · answered by Celeste 6 · 0⤊ 0⤋
They do. You are misinformed. If you take payments over a number of years rather than a lump sum, they generally purchase an annuity.
2007-07-03 11:34:42 · answer #3 · answered by Judy 7 · 0⤊ 0⤋
Yes they do. See link below.
http://www.professorbeyer.com/Articles/Lottery.htm
2007-07-03 09:24:12 · answer #4 · answered by spicertax 5 · 0⤊ 0⤋
i did not know this....i better get a lump sum.
oh, but wait, then they only pay out like half right?
dang it....you cant beat these guys.
2007-07-03 03:14:53 · answer #5 · answered by viajero_intergalactico 6 · 0⤊ 2⤋
So they can steal it and cheat you out of it.
2007-07-03 01:56:48 · answer #6 · answered by ToolManJobber 6 · 0⤊ 2⤋