If I were Filthy Rich
By Daegog+22 Question about lucky for life jackpots, how would you handle it?
For those that do not know, the lucky for life jackpot gives you a 1000 dollars a day for life (or 20 years if you die early), so roughly 240k a year after taxes.
I think there is a cash option for you to get like 5 million or so at once, but I am focusing on standard win type for now.
To those 65 or older, Do you have any young relatives (at least 21 obviously), that you personally trust enough to give the ticket to cash? There would be some deal in place of course that they give you all the money until you die, then they just keep getting paid long after you are gone..
Now this would require ENORMOUS trust on your part, because legally, if they have the ticket, they are not obligated to give you anything.
You could, try for some sort of legal contract, forcing him to give you the money, but you could end up dealing with fraud charges that nullify the win.
While there could of course be some risks, such as they die before you do and the total payout would only be for 20 years at that point, but for the most part, its safe to say someone in their 20s will outlive someone in their 60s.
So what say you? Do you have enough trust? Do you know anyone trustworthy enough?