Noleman is right on target if the rules of the win allow you time to consult an attorney/CPA. From my perspective, concealing my personal information would be most important. Not always possible depending on rules/state law. Second consideration would be getting all of the money. The only advantage I see to receiving payments over 20 years is providing an income stream for a period of time and spreading the tax burden over time. One would need to be sure that if they died before receiving 20 years of payments that the payments would continue to their estate until fully paid. All that said, I'm a lump sum man. Pay me now. I pay the government and I invest/distribute the rest.