Wow....I am going to see my accountant asap. I had called the IRS and they confirmed that I did not have to file. But, got the letter anyway. Now, I have all the inheritance coming my way. I had better know what I am doing, or I will go nuts. These people who are bitter because they are not getting anything better think twice. The Taxes look like they will be killers. I hate giving the government of ours anymore than we have to. They live like kings off of us and retire as millionaires, while we minions work our buns off. Reading the information on this site, sort of scared me as to how I will handle all of this.
Also do you have a 5-year plan?... do you have enough money to self-pay if for some unfortunate chance you had to reside in assisted living or a nursing home? If not, Medicaid will look back 5 years, and if your gave the max or any amount as a gift to your grown children/grandchildren or a huge check to charity, Medicaid will subtract those amounts against what they will pay for your care.
Why does getting old have to be so complicated :(