With my overall health, I would take the lump sum payout. Half of that would go to the taxes.
1. Set up a trust fund for my step daughter. Payout at 35 if she has atleast a 4 year degree in something other than liberal arts.
2. Pay of my dad's and my grandfather's house, and set both of them up with a trust to pay the bills and taxes.
3. Move the @%$! out of New York state!
4. Buy land in a gun friendly state, and set up a hunting ranch. FTF members always welcome if they are willing to share the meat from their kills, or to drop by and visit.
5. Make up for lost time with my wife and kid, my pets, and my collection.