According to Lottery Law Updates.com, nearly 200 winners in Massachusetts have opted for a lump sum cash out since the state recently opened the doors for lottery winners to assign future lottery payments to a third party for an advance on their winnings.
A judge denied a 94-year-old woman's attempt to force the Massachusetts Lottery Commission to pay her entire $5.6 million Megabucks jackpot upfront on grounds she otherwise won't live long enough to collect it all. The ruling means the commission can pay Louise Outing, a retired waitress, over 20 years in annual installments worth about $200,000 after taxes. See Lottery Laws.com for more on this story.
Marylands State Legislature is discussing an important update to the states lottery law. If approved, the new law would offer Maryland lottery winners who previously chose the annuity option, the right to trade future payments for larger immediate sums. See Lottery Laws.com for more information.
