Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

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?

April 26, 2017large lottery pay period prize prizes type

0

10 Posted

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?

1 Answer

0

10 Posted

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.