Congrats on what sounds like a nice clump of bearded iris. Have you read the FAQ at the top of the page. It will probably answer most of your questions.

Djsaw, No one has talked about 'lifestyle and money'... Jkom put it in a very technical way. I am putting a bit of a human story behind it.... but saying the same thing. The fact that you are not working right now and living off the dividends is a big red flag for your future. You have kids and your living expenses will only grow not lessen. Unless there is enough money to meet all your future needs, ie college, mortgage, new car, travel etc, you need either a job that pays well enough or an investment strategy that will give you enough to live on without eroding the principle. There may or may not be enough money for that as is. (I have no idea from your post.) This is where you need to talk to someone that can really figure out what you want for yourself and your kids with the money that is there. Most people with a young family need about $5mil to $10mil nest egg to have an upper middle class lifestyle without needing to work for life AND risking the principle. "Not risking the principle" is a very important concept because you do not have the earning power to bring it back up if you lost it. (If your wage was a $1/2 mil to $1mil a year then no big deal but you are not there...) People like Donald Trump and Ted Turner can pull themselves out of near bankruptcy but most of us cannot recoup the lost principle. I have seen multigenrationally wealthy families have this happen to them due to risky investments. If I had your money, I would want to have certain things that money can buy; a house in a good school district, enrichment for my kids, good after school care for my kids if I was working, nice vacations etc. Notice I did not list designer handbags or fancy cars. One of the joys of having money is that you can have some opportunities that enable you to enjoy life more fully and perhaps get your kids a small head start with good education and opportunities that may help them in life. We are all driven by Darwinian instinct to put our kids ahead of someone else's kids. This does not mean materially owning more things. However, there are things money can buy you to achieve that. As an example, I have piano lessons for myself and music lessons for my kids that cost about 6 to 8K per year. I get a great deal of joy out of my music. I budget about 10K to 20K for travel every year because I want to see the world and I want my kids to see the world. These items add up to a significant amount of money and I could not do these things if my salary was 50K a year, a median salary for a family of 4 in the USA. For example, if there is $1 to 2 mil in you portfolio and you have 50K to 75K before taxes to live on, then that is not a 'great income' to have a nice life style. However, if you supplmented that by having $50k salary, then you may be able to do things that you thought not possible with either the income alone or just the earnings from the inheritance alone. This is why you talk to the financial advisor/planner to help you achieve your lifestyle goals, whatever they maybe.... You are extremely lucky. I wish you the best.

I would be interested in what you find out. From what I recall when my dad set up a by pass trust, irrevocable, after my mother passed away that included income property I was told I would have to have it appraised again at the time of his death and I would get the step up value. No 1031 involved so it may be different. This was a long time ago and all I know is his attorney and accountant will be the first ones I call to settle the estate. Keep us up dated with what you learn.

Posted by annie1992 " coconut, I've also used many old appliances from the forties or older, with no ill effects. Well, there is that slight twitch, but no one notices much, LOL------" Old appliances are very durable and are generally safe to use. However, over 30,000 homes are burnt down and 300 people killed each year from electrical problems. 1. Vintage electric cooking devices most likely are not properly grounded or double insulated. 2. Old wiring may use cloth and paper for insulation, which can age, crack and fray. 3. The bi-metal thermostat may be worn and fused together, causing over heating. 4. At some point in the past, aluminum had been used for wiring, which can cause fire. Aluminum wiring has been outlawed. 5. There is a very good chance that some insulation inside may be asbestos, which also has been outlawed. dcarch