>>519132328
>If you parents leave you anything then uncle sam is gonna take half of it.
You don't pay tax on inheritance until it crosses over the lifetime gift exemption limit of 13m+. At that point boooo hoooo you're 20m got 7m of it taxed.
What does screw you is probate. As that's (fucking lawyers) a fixed percentage of the estate to the lawyers. You get around this with a trust. Most importantly for middle class is the house as that's pretty much the main asset.
My own mother screwed this up despite having my uncle being a damn probate lawyer who would have done it for free. She had to sign the house over to me on her death bed. Now if I ever sell I'll have to pay capital gains as it was income.
Never plan to sell of course being it's paid off and I legit can't afford to live in CA without it. So at least in my case, only son of a widow, my boomer-ish parent did her best and only kind of messed up paperwork wise not getting that trust. It's fine.