Quote Originally Posted by brutal View Post
My understanding is that Fed Inheritance tax kicks in at $5M and CO doesn't tax. Who here has those kinds of assets? Not me.

The advice I generally see does not recommend living trusts for those without dynasty assets, but I was not aware of the medicare thing.
Have you ever heard of the saying "Land rich, money poor." I have several ranching friends who almost lost their ranches or did loos a big part of them because of the inheritance tax. The properties had been in their family for generations, with a lot bb's of the land being purchased at $.10-.25 an acre. The drought made them sell off the cattle, then when their parents passed, there was little money to pay the taxes. The government taxes the land at current value. 10,000 acres to them could be worth $7.5 to $10 million easily.