| | | Register & Recorder | Inheritance Tax | | Lineal heirs (grandparent-parent-child-grandchild-adopted child) 4½ % |
| | | Register & Recorder | Inheritance Tax | | If the tax is paid within 90 days of death, there is a 5% discount.
If Inheritance Tax not paid by 9 months after date of death there is interest added.
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| | | Register & Recorder | Inheritance Tax | | The family exemption may be claimed by a spouse of a decedent who died as a resident of Pennsylvania. If there is no spouse, or if the spouse has forfeited his/her rights, then any child of the decedent who is a member of the same household as the decedent may claim the exemption.
In the event there is no spouse or child, the exemption may be claimed by the parent or parents who are members of the same household as the decedent. The family exemption is allowable against assets which are passed on with or with out a will. The amount of the family exemption is $3,500.00.
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| | | Register & Recorder | Inheritance Tax | | Yes unsatisfied liabilities incurred by the decedent prior to his/her death are deductible against his/her taxable estate. In addition to debts incurred by the decedent or the estate, the cost of the administration, attorney fees, fiduciary fees, funeral & burial expenses including the cost of a burial lot, tombstone or grave marker, and other related burial expenses, are deductible. |
| | | Register & Recorder | Inheritance Tax | | For the sake of convenience, I put my mother’s name on my savings account. Recently my mother died and I am being told that I have to pay Inheritance Tax, is this correct?
Under the Inheritance Tax law, the account was jointly owned because you and your mother had equal access to the account. Therefore, in this example the survivor is taxed on one-half of the amount in the account.
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| | | Register & Recorder | Inheritance Tax | | Estates are probated in the County in which the decedent resided at time of death. |
| | | Register & Recorder | Inheritance Tax | | They are fully taxable if the decedent was over the age of 59½ |
| | | Register & Recorder | Inheritance Tax | | Proceeds from Wrongful death, or Life Insurance are not taxable. |
| | | Register & Recorder | Inheritance Tax | | Proceeds for survival action are taxable. |
| | | Register & Recorder | Estates | | When an individual dies, it is often necessary to follow formal procedures in settling the estate. This process is called Estate Administration. Requirements are established by state and federal laws, which must be followed. Administration includes procedures and requirements relating to collecting of assets, satisfying of obligations such as debts, expenses and taxes, and distributing property to the heirs and beneficiaries. |
| | | Register & Recorder | Estates | | A personal representative is the individual charged with administration of an estate. If an individual has executed a will during his or her lifetime, the will should designate the personal representative, who is called an Executor. If the deceased person did not have a Will, an Administrator will be appointed to handle the Estate. Law establishes the individuals entitled to administer an estate. |
| | | Register & Recorder | Estates | | An executor or administrator must obtain the necessary legal documents to enable him or her to act for the estate. These documents , called Letters Testamentary (executor), or Letters of Administration (administrator), are obtained through the Register Of Wills in the county in which the deceased person lived at the time of death.
The Duties Of The Personal Representative Include:
*Finding the Will and having it probated
*Locating and protecting the assets of the estate
*Finding and notifying the heirs
*Paying debts, expenses, taxes of the estate from it's assets
*Complying with State & Federal Laws
*Distributing property to the heirs after all procedures are followed
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| | | Register & Recorder | Estates | | At the beginning, all assets of the estate, including personal possessions and real estate, are inventoried and sometimes physically gathered. All the beneficiaries (if there is a will) or heirs (if there is no will) are located. They are told that they are named in the will or have a legal right to receive an inheritance. Funeral expenses, debts, state and federal taxes are paid, and necessary tax returns are filed. At the conclusion of the administration period, a final accounting of all assets is presented for approval to the county court. After approval, distribution of the balance of assets is accomplished. |
| | | Register & Recorder | Estates | | If someone close to you had died, it is suggested that nothing be done to disturb any of the property of the deceased unless it is necessary to protect it from being lost or destroyed. Shortly after the funeral, an attorney should be contacted to discuss the matter with those close to the deceased. The lawyer will provide advice, determine whether administration will be required , and explain what procedures will be involved. If a will is found, the person named as executor should protect the will and give it to the attorney at the first consultation. |
| | | Register & Recorder | Will Information | | A Will is any written document, signed at the end by a person at least the age of eighteen (18) years of age and of sound mind which directs the manner of distribution of anything owned by the writer at the time of death. The will should name an executor whose job is to probate the Will after death and carry out it's instructions. A will may also appoint guardians of the estates of minors who may receive property under the Will. |
| | | Register & Recorder | Will Information | | Living persons do not have wills registered or retained by the Register of Wills, Original Wills are usually kept secure by the attorney who prepared the Will, or placed in a vault of a trust department, or in a safe deposit box belonging to the testator (person who wrote the Will) |
| | | Register & Recorder | Will Information | | Yes, everyone should have a Will. This will guarantee that your lifetime accumulations are given to those persons, charities, or institutions whom you wish to benefit. |
| | | Register & Recorder | Will Information | | If there is no Will, an administrator is appointed by the Court to handle the estate, individuals or institutions entitled to administer an estate are established by law. The Register of Wills grants this authority in a document called Letters of Administration. The Decedents estate is then distributed according to Intestate Law. These Intestacy Laws name the beneficiaries and the amount to which they are entitled. |
| | | Register & Recorder | Will Information | | A Will is effective at the death of the testator. It may be revoked at any time prior to death by a Will or Codicil later in Date or destruction of the Will itself by the testator. The Will which may be probated is the last Will signed by the Testator. |
| | | Register & Recorder | Will Information | | No, but two (2) witnesses, subscribing or non-subscribing, must appear at the Register Of Wills' office at the time of probate to prove the validity of the Will. Subscribing witnesses may appear before a notary. A Will witnessed by subscribing witnesses can better survive a Will contest because the testator's legal capacity to make a will is presumed. Wills can be made self-proven if the testator signs proper acknowledgements and affidavits and witnesses at the time of execution self-proving wills eliminate the need for the witnesses appearing at the Register of Wills Office. |
| | | Register & Recorder | Will Information | | The disposition of one's property is determined by many personal factors including family, personal relationships, and interests in charities. A Will should be changed when those relationships change. Examples of this could be Death or Divorce. |
| | | Register & Recorder | Will Information | | Before any individual or institution is legally eligible to take possession of the assets of an estate, he or she must have authorization by the Court to do so. The Register of Wills grants this authority in a document called Letters of Testamentary after the Will has been probated (or proven to be authentic). |
| | | Register & Recorder | Will Information | | Once an individual or institution has court authorization to take possession of any assets, a short certificate may be required before those assets can be released.
As many short certificates as necessary may be purchased from the Register of Wills Office after formal opening of an estate or probate of Will. |