Megabucks winner loses in court

AP ^ | December 30, 2004 | Ken Maguire,

[ConservativeStatement]

Louise Outing's luck ran out Thursday when a judge denied the 94-year-old woman's request to force the state Lottery Commission to pay her entire $5.6 million winnings up front. After an initial gross payment of $283,770, Outing would be paid 19 annual gross checks of $280,000. After taxes, it's $196,639 a year.

[flashbunny]

She should just get one of those companies that buy annuities to buy her out. Cheaper than a court case you're going to lose.

[Hu Gadarn]

Thats what you get for not checking the lump sum payout box.
Its a pitty that she won't live to collect all of it.

[Izzy Dunne]

I guess I don't understand why she (or her lawyer) thought they should change the rules just for her.

[ScottFromSpokane]

Must be a Democrat.

[lmr]

Th means she would be 114 years before she received all the payments... Very unlikely she would make it that long. Would any heirs be entitled to the remaining payments? At any rate, I don't think this woman would enjoy the winnings at her age as much as say... ME. I am only 33. I would bet her entire winnings that I could have more fun with that money than she would.

[JBCiejka]

Some of the games, do not give you that option.

[af_vet_1981]

Must be a Democrat.

from Florida, Ohio, or Washington State

[konaice]

She should just get one of those companies that buy annuities to buy her out. Cheaper than a court case you're going to lose.

Many of these lotteries are only paid during the life the original winner, and payments stop upon death, even if there are heirs.

[elli1]

Thats what you get for not checking the lump sum payout box.

Lump sum payout was not an option on this lottery.

[JBCiejka]

She wanted to allocate it to her grandchildren. I would think that the heirs would still receive the payments until it is paid off. I would assume that anyone over the age of 70 would probably never play if they knew they would never collect the money. If she won the money, would she not be responsible for all the taxes. There should be some equitable way of dispersing it.

[Hu Gadarn]

Oh I was unaware of that.... it is an option where I live.

[AmericanMade1776]

you would think a 94 year old, would not even be able to spend...$280,000 a year...sheesh....what is the problem...just make a will and have the winnings go to the offsprings, AFTER DEATH...

[AmericanMade1776]

Hope that did not sound tooo callous!

[stevem]

I think I'd hang around just to get the money.

[REDWOOD99]

Her lawyer couldn't make any money off her if he advised her NOT to go to court.

[Izzy Dunne]

Her lawyer couldn't make any money off her if he advised her NOT to go to court.

I wish I didn't believe you were right, but you might be.

[JBCiejka]

From what I heard on the news this morning, it is up to the descretion of the lottery commissioner.

[FreedomCalls]

She wanted to allocate it to her grandchildren. I would think that the heirs would still receive the payments until it is paid off. I would assume that anyone over the age of 70 would probably never play if they knew they would never collect the money. If she won the money, would she not be responsible for all the taxes. There should be some equitable way of dispersing it.

There is an equitable way. She should have thought of it when she cashed it in. The tickets are bearer instruments. All she had to go was give it to one of her grandchildren before cashing it in -- unless she didn't think anyone younger than herself was trustworthy enough to share with her. And if that's the case, then tough luck.

[Blood of Tyrants]

I would leave it in a trust to my heirs.