Inheritance Taxes In Pennsylvania
When you have a family member whose estate is going through probate in Pennsylvania, you have much to worry about. However, one of the most important worries you may have is the inheritance tax. Inheritance tax is serious, and you must understand where you stand.
At Family Legal Center, LLC, attorney Laura Cohen has decades of experience in all matters of probate law, from administration to litigation. We offer each of our clients from Monroeville and across the state the benefits of our insight and skill. If you’re concerned about the tax liability of your loved one’s estate, contact us so that we can explain the law and help you pursue the most optimal solutions.
What You Need To Know About Inheritance Tax
The most important thing to know about inheritance tax in Pennsylvania is that it applies to all estates. From small to large, no estate is exempt. However, depending on your relationship with the deceased, you may have to pay much less. Spouses, for example, pay 0% in inheritance tax, as do parents under specific circumstances. Aside from those parties, everyone else has some tax liability.
This tax liability can mean that you must liquidate aspects of the estate to pay the taxes on it. If it was property or some other heirloom, it might make you face the choice of losing the property or having to pay out of pocket for it.
How Can Help
You may have options to help you reduce your tax burden if you stand to inherit. However, your options will largely depend on your circumstances. This is why you must speak with our attorney. We can work with you to navigate this issue.
Contact our office to schedule a meeting. We will speak with you one-on-one and explain the law in a way you can understand. We’ll build a plan with you to pursue your goals. Call us at 412-843-0957 or send an email.