Cash vs. annuity: Which payout should you pick if you win Mega Millions, Powerball jackpots?

Story at a glanceIf you overcome the odds and win a big lottery jackpot there are anumber of steps expertssuggest following.That includes building your team — a financial advisor, a tax advisor and a lawyer are highly recommended — and keeping the ticket secure.Once you’re ready to come forward and claim your prize, you’ll have a big decision to make: take the annuity option or the cash payout.If you want your winnings right away, you’ll want to select the cash option, but if you want more money in the end, you may prefer the annuity option. (NEXSTAR) — Lottery players nationwide have the chance at nearly $2 billion as the Mega Millions and Powerball jackpots continue to roll. If you’re lucky enough to win one (or both), you’ll face a big decision: how would you like your winnings paid out?As of Tuesday, the Mega Millions jackpot is estimated at $1.12 billion, the fifth-largest in game history and the eighth-largest in U.S. history behind the $1.337 billion Mega Millions jackpot won in...