This will happen to the $1.34 billion Mega Millions lottery prize if not claimed by September 27

The $1.34 billion Mega Millions prize winner will have to claim the prize now if he wants to get this benefit.

Photo: RINGO CHIU // AFP/Getty Images

Although it looks like it happened a few days ago, in the coming weeks There will be two months to draw the $1,340 million Mega Millions lottery And who bought the ticket winner in Illinois.

What has attracted the most attention is that so far, No news on who was the lucky one who took this amount thanks to Mega Millions So far, no one has applied to claim the prize.

Despite the fact that the winner practically has a year to claim their prize, the truth is that Certain conditions or facilities granted by Mega Millions to the winner of such an amount are about to expire.

Legally, the $1,340 million winner has the option to collect the money, Either choose a one-time payment or this amount is divided so that you get a portion of the profits annually.

however, To choose the first option, the Mega Millions lottery gives a period of 60 days after the draw to claim the prize. On this occasion, the grand raffle was held on July 29, so the winner, if he wants the money in his hands, must claim it before September 27th.

If not, the money will be paid to you in annual installments only.

Susan Bradley, a certified planner and founder of the Sudden Money Institute, in Palm Beach Gardens, Florida, said in an interview with CNBC.

“Whether the award is taken as a lump sum or as an annuity, there are pros and cons to each option that are best resolved with the help of a team of professionals,” Bradley added.

Let’s remember that if a lump sum is desired, with tax deductions, the winner will receive $880.5 million instead of $1340 million, although other deductions can be made.

In the case of the annual payment lasting 3 decades, the beneficiary will receive approximately $44.6 million each year.

It may interest you:

* Illinois businesses that sold $1.337 million winning Mega Millions lottery tickets are waiting to collect $500,000 in commission
* A man from New York won a million dollar lottery, but only got half the money to pay taxes
* 3 strategies you should always avoid when playing the lottery

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