$213 million, after taxes, is about $149 million, because you pay about 30% taxes to the state and feds.
The $105 million (I do believe that’s before taxes as well, so expect a cheque of “only” $70 million) is probably the base amount that gets paid out. If you are willing to wait out the entire 20 year period, then the money gets invested by the state to which then you’d receive an annuity. By the time the state has paid you out, because of the interest made, you’d be entititled to the entire $213 million, subtract taxes.
the current federal rate on $105m is 35%
most states 5 or 6% ... combined 40% or so.
And the feds have a nice claim of 40% estate tax on what is left. And ya cannot give it away .... unless you move some to a charitable trust ... no longer your asset then.
The smart move for an elderly person is try to have your grandchildren cash it in ... but I do think minors can be owners. This might be challenged saying that you are the owner and you GIFTED it to your grandchildren .... not sure what the law says.