What should I do if I inherit $500,000? What is the most common inheritance mistake? What is the best way to leave inheritance to your children? What is the 7 7 7 rule for money? What is the 5 year rule for irrevocable trusts? What is the 120 day rule for trusts? What is considered a lot of money to inherit? What does legacy trust do? What assets cannot be placed in a trust? Is a legacy trust revocable or irrevocable? How much does it cost to set up a legacy trust? Does a legacy trust file a tax return? Do you pay capital gains tax on an inherited property? Can I give my kids $100,000 tax free? Can a nursing home take your house in a revocable trust?