Prizes not assignable except to revokable living trusts or personalcustodian, requirements--death of prize winner, how prize is paid.
313.285. 1. No prize, nor any portion of a prize, nor anyright of any person to a prize awarded shall be assignable,except that a prize may be paid for the use and benefit of theprize winner to the trustee of a revocable living trustestablished by the prize winner or a personal custodian appointedby the prize winner under the Missouri personal custodian law,chapter 404, RSMo. The prize winner's request to the directorthat payment be made to a trustee or personal custodian shall besubmitted in a notarized letter together with a copy of the trustor written agreement with the personal custodian.
2. Any prize or portion thereof remaining unpaid at thedeath of a prize winner shall be paid as follows:
(1) To the estate of the deceased prize winner;
(2) To the trustee under a revocable living trustestablished by the deceased prize winner as settlor, providedthat a copy of the trust has been filed with the director alongwith a notarized letter of direction from the settlor and nowritten notice of revocation has been received by the directorprior to the settlor's death; or
(3) To the surviving beneficiaries shown in a writtenbeneficiary designation that has been executed by the prizewinner and submitted to the director before the prize winner'sdeath. If a trustee is named a beneficiary, a copy of the willor instrument creating the trust shall be filed with the directorbefore payment is made to the trustee.
3. Notwithstanding any other provision of this section, anyperson pursuant to an appropriate judicial order may be paid theprize to which the winner is entitled. The commission and thedirector shall be discharged of all further liability uponpayment of a prize pursuant to this section. Any ticket or sharemay be purchased by two or more persons and any prize payabletherefor shall be made in accordance with the ownershippercentages of such ticket or share.
4. A beneficiary designation submitted by a prize winner isrevocable by the beneficiary during lifetime and is governed bythe nonprobate transfers law, chapter 461, RSMo. The rulesprovided in section 461.062, RSMo, shall apply in addition to anyrules adopted by the director and approved by the commission thatare made a part of the beneficiary designation.
5. Persons who begin to receive payment of the prize afterthe prize winner's death shall be treated as the prize winner forthe purpose of this section and may provide for disposition ofany portion of the prize remaining unpaid at their death by will,trust or beneficiary designation.
Prizes not assignable except to revokable living trusts or personalcustodian, requirements--death of prize winner, how prize is paid.
313.285. 1. No prize, nor any portion of a prize, nor anyright of any person to a prize awarded shall be assignable,except that a prize may be paid for the use and benefit of theprize winner to the trustee of a revocable living trustestablished by the prize winner or a personal custodian appointedby the prize winner under the Missouri personal custodian law,chapter 404, RSMo. The prize winner's request to the directorthat payment be made to a trustee or personal custodian shall besubmitted in a notarized letter together with a copy of the trustor written agreement with the personal custodian.
2. Any prize or portion thereof remaining unpaid at thedeath of a prize winner shall be paid as follows:
(1) To the estate of the deceased prize winner;
(2) To the trustee under a revocable living trustestablished by the deceased prize winner as settlor, providedthat a copy of the trust has been filed with the director alongwith a notarized letter of direction from the settlor and nowritten notice of revocation has been received by the directorprior to the settlor's death; or
(3) To the surviving beneficiaries shown in a writtenbeneficiary designation that has been executed by the prizewinner and submitted to the director before the prize winner'sdeath. If a trustee is named a beneficiary, a copy of the willor instrument creating the trust shall be filed with the directorbefore payment is made to the trustee.
3. Notwithstanding any other provision of this section, anyperson pursuant to an appropriate judicial order may be paid theprize to which the winner is entitled. The commission and thedirector shall be discharged of all further liability uponpayment of a prize pursuant to this section. Any ticket or sharemay be purchased by two or more persons and any prize payabletherefor shall be made in accordance with the ownershippercentages of such ticket or share.
4. A beneficiary designation submitted by a prize winner isrevocable by the beneficiary during lifetime and is governed bythe nonprobate transfers law, chapter 461, RSMo. The rulesprovided in section 461.062, RSMo, shall apply in addition to anyrules adopted by the director and approved by the commission thatare made a part of the beneficiary designation.
5. Persons who begin to receive payment of the prize afterthe prize winner's death shall be treated as the prize winner forthe purpose of this section and may provide for disposition ofany portion of the prize remaining unpaid at their death by will,trust or beneficiary designation.
Prizes not assignable except to revokable living trusts or personalcustodian, requirements--death of prize winner, how prize is paid.
313.285. 1. No prize, nor any portion of a prize, nor anyright of any person to a prize awarded shall be assignable,except that a prize may be paid for the use and benefit of theprize winner to the trustee of a revocable living trustestablished by the prize winner or a personal custodian appointedby the prize winner under the Missouri personal custodian law,chapter 404, RSMo. The prize winner's request to the directorthat payment be made to a trustee or personal custodian shall besubmitted in a notarized letter together with a copy of the trustor written agreement with the personal custodian.
2. Any prize or portion thereof remaining unpaid at thedeath of a prize winner shall be paid as follows:
(1) To the estate of the deceased prize winner;
(2) To the trustee under a revocable living trustestablished by the deceased prize winner as settlor, providedthat a copy of the trust has been filed with the director alongwith a notarized letter of direction from the settlor and nowritten notice of revocation has been received by the directorprior to the settlor's death; or
(3) To the surviving beneficiaries shown in a writtenbeneficiary designation that has been executed by the prizewinner and submitted to the director before the prize winner'sdeath. If a trustee is named a beneficiary, a copy of the willor instrument creating the trust shall be filed with the directorbefore payment is made to the trustee.
3. Notwithstanding any other provision of this section, anyperson pursuant to an appropriate judicial order may be paid theprize to which the winner is entitled. The commission and thedirector shall be discharged of all further liability uponpayment of a prize pursuant to this section. Any ticket or sharemay be purchased by two or more persons and any prize payabletherefor shall be made in accordance with the ownershippercentages of such ticket or share.
4. A beneficiary designation submitted by a prize winner isrevocable by the beneficiary during lifetime and is governed bythe nonprobate transfers law, chapter 461, RSMo. The rulesprovided in section 461.062, RSMo, shall apply in addition to anyrules adopted by the director and approved by the commission thatare made a part of the beneficiary designation.
5. Persons who begin to receive payment of the prize afterthe prize winner's death shall be treated as the prize winner forthe purpose of this section and may provide for disposition ofany portion of the prize remaining unpaid at their death by will,trust or beneficiary designation.
