Man with terminal illness wins 20-year annuity lottery jackpot

Comment #20

tg636 — Sun, 04 Feb 2007 20:55:32 GMT

This isn't very shocking to me. The prize is what the prize says it is, if that doesn't suit you, don't buy a ticket. If I found out I only had a year to live and won 20 annual payments, I would be okay with it. It would make me feel better about leaving the world knowing my wife and daughter would be financially secure after I'm gone and give a little to others who have been good to me.

Comment #19

CASH Only — Sun, 04 Feb 2007 19:22:12 GMT

I'm actually going to try to call this man. I'll look up his number at www.anywho.com. I've been using it since a friend told me about it in 1999.

He's now the NY version of then-94-year-old Louise Outing of MA, who won Megabucks, and the lottery still wouldn't give her a lump sum. She'd be 97 in March.

Comment #18

four4me — Sat, 03 Feb 2007 18:13:16 GMT

translation =

Yes....I would TRADE my....

Kingdom for Horse!

ODK said.....that

Comment #17

CASH Only — Sat, 03 Feb 2007 14:54:11 GMT

He obviously bought the ticket after he learned he's going to die. He should have tried harder to avoid the scratch games that are annuity-only.

I think he should try to contact Gov Spitzer. He used to be NY attorney general.

Comment #16

psykomo — Sat, 03 Feb 2007 03:47:34 GMT

Yes....I would TRADE my....

Kingdom for Horse!

ODK said.....that

Comment #15

codmander — Sat, 03 Feb 2007 03:45:31 GMT

get cash now call jg went worth how many times you see that commercail in a day

Comment #14

fja — Sat, 03 Feb 2007 01:19:39 GMT

This would be a non-issue (non-story) if he did not win....Its not the lottery or the medical doctors that caused his illness...but now he has choices he can make and leverage to make deals to improve (if not save) his life...It is a sad story....but there is really no villan here. Rules and regulations,,,just like laws, should not be changed due to some isolated incidents......in this case the many, out weight the one.....

I wish him the best regardless

Comment #13

rdc137 — Fri, 02 Feb 2007 21:26:31 GMT

The only thing is he bought the ticket thus accepted the annuity only terms.

Comment #12

SirMetro — Fri, 02 Feb 2007 18:09:19 GMT

This is one time where I would support Cash Only in the pursuit of a clause that would permit a cash payout (am assuming average annuity cash payout is around 30% which is far greater then the 10% a buy-out would pay) for annuity only games.

Perhaps if the clause read something to the extent of In the event that the collective medical opinion of (xx number) State Board Certified Medical Doctors who specialize in the terminal illness of the Lottery Winner is such that the Lottery Winner coul... [ More ]

Comment #11

justxploring — Fri, 02 Feb 2007 16:57:01 GMT

LOL DoubleDown. In this case, Cash Only would probably be right, except that the lottery doesn't actually have the cash advertized. It's always an annuity and the cash value is .......well, everyone here already knows. At least there should be a lump sum value when a prize is paid over 20 years. That said, we all can choose which games we want to play. The lottery can't make exceptions for any one particular person because it would be opening up that proverbial can of worms. However, maybe... [ More ]

Comment #10

time*treat — Fri, 02 Feb 2007 16:52:10 GMT

If you need cash now call J.G. ...

It's your money, use it when you need it...

(I just wanted to say it before guesser

Comment #9

DoubleDown — Fri, 02 Feb 2007 16:06:03 GMT

Shhhh !!!

Be vewy vewy quiet

Comment #8

JAG331 — Fri, 02 Feb 2007 16:02:39 GMT

Where's CO? I can't wait for him to weigh in on this

Comment #7

fja — Fri, 02 Feb 2007 14:27:57 GMT

Talk about dangling a carrot in front of you.....maybe he could sign his winnings over to the doctors for his treatment...

Comment #6

justxploring — Fri, 02 Feb 2007 05:58:29 GMT

According to this article, he has no family and wants the money upfront for an entirely different reason. He asked the Lottery Commission to make an exception so he can receive a new advanced cancer treatment for which he isn't covered. They refused. The caption under his photo is

Wayne Schenk, left, won a million in the state lottery, but only after he had been diagnosed with cancer. Now, Schenk is trying to find a way to get more of the money up front so he can afford state-of-the-art... [ More ]

Comment #5

KY Floyd — Fri, 02 Feb 2007 05:24:43 GMT

Selling the annuity will net him less than if there was a cash value option, but he can certainy indulge himself a bit if he chooses. As far as providing for his family, if he has one, he's now got a chance to leave them more than he would for losing any of the numerous games with cash options.

Comment #4

justxploring — Fri, 02 Feb 2007 00:30:46 GMT

Yes, all lottery prizes go to the estate of the winner. I'm not sure I would cash in the annuity if I were dying, unless I didn't have any family at all. Usually the winner would ask a family member to claim the prize, so there would be no inheritance tax. In this case, he didn't win over $2 million so there probably won't be an inheritance tax on the money. By cashing in the annuity and losing so much money, less the taxes, his family wouldn't be left with much. I'm not passing judgment,... [ More ]

Comment #3

emilyg — Fri, 02 Feb 2007 00:07:35 GMT

Yes - it's done all the time.

Comment #2

stavros — Fri, 02 Feb 2007 00:04:42 GMT

Is the annuity inheritable? Can you leave it to family/friends? If you can't leave it, can you sign it over to someone while you are still alive

Comment #1

weshar75 — Thu, 01 Feb 2007 23:53:03 GMT

Well I would sell my annuity if I only had a year left. But that is just me.-weshar75

Man with terminal illness wins 20-year annuity lottery jackpot

Lottery Post — Thu, 01 Feb 2007 23:50:08 GMT

In December, Wayne Schenk was diagnosed with terminal lung cancer. A month later, he was a millionaire.

The 50-year-old tavern owner from Naples, New York, won a million dollars in a New York state lottery scratch-off game.

But the Marine Corps veteran doesn't expect to be around to collect all his winnings. To do that, he would have to live 20 years. His doctors have given him a year to live, at most.

Under lottery rules for the High Stakes Blackjack game he won on January 12, the jack... [ More ]