When I saw that their IRA distribution of 500,000 had NO tax withholding, I started to wonder.  So, I called.  These folks thought that the cost paid on investments held in a retirement account gave them tax basis!! I explained pretax monies blah blah.

Immediately, I felt like a failure as an advisor. That somehow, I hadn't built the trust needed to have a conversation.  But they admitted that they have been DIY in nearly every facet of their lives (they are now 75) - from growing food to building a home - and they are entirely responsible.

Like the prominent poster here says, "questions are hard".  They didn't even know what they didn't know.