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Tag: Chester County

Will transferring a property before death avoid taxes?

Posted on Sat Apr 4, 2015, on Estate Planning

My father wants to transfer a rental property he owns in Chester County into my name. If he does, will this gift avoid Pennsylvania Inheritance Tax?

As a Chester County resident, at your father’s death, all assets he leaves you at death (except life insurance) will be subject to the Pennsylvania Inheritance Tax at the 4.5% children’s rate. That includes all gifts made within one year of the date of his death. So, if he transfers the rental property into your name and lives for at least one more year, at his death you will avoid Pennsylvania Inheritance Tax payment.

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Compelling Chester County Executor to Pay Your Inheritance

Posted on Mon Mar 16, 2015, on Estate Litigation

My Grandmother died three years ago in Chester County leaving me a lump sum in her Will. The house is sold, the taxes are paid but I have not received my inheritance. The executor will not return my calls, what can I do?

As the heir of a Chester County estate, you do have the right to force the Executor to provide you with a time line when you will receive your inheritance. If the executor will not give you one voluntarily, you can have your Chester County Orphans’ Court lawyer file a Petition for Accounting with the Chester County Orphans’ Court. The executor must reply, or face potential removal and surcharge.

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Attorney’s Fees in Chester County Pennsylvania

Posted on Mon Mar 9, 2015, on Fees

I am the co-executor of my Mother’s Chester County, Pennsylvania estate, along with her attorney. What fee can he charge?

First, if your Mother’s attorney is serving as the executor and will also be providing your mother’s estate legal services in Chester County, the attorney should not be charging both an executor’s fee and a fee for legal services based solely on a percentage of the estate.

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Acquiring Release of Liability as Executor in Pennsylvania

Posted on Sun Mar 8, 2015, on Estate Litigation

I am the executor of my mother’s estate in Chester County, Pennsylvania. I have sold the real estate, liquidated all the assets and am ready to distribute, but my sister will not give me a release of liability. What can I do?

You are right to be concerned. Prior to making distributions from the estate, you should insist on getting a release of liability. This is typically done informally by using what is broadly referred to as a Family Settlement Agreement.

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Do I owe inheritance tax if my Mom transferred me her house before death?

Posted on Fri Mar 6, 2015, on Probate and Estate Administration

My Mother transferred her Chester County home to me two years ago and has recently died. I am going to sell the house soon, but do I have to pay Pennsylvania Inheritance Tax?

Not in your case. The Pennsylvania Inheritance Tax of 4.5% applies to: transfers to children at death and includes all gifts made within one year of the date of death. If the house was transferred properly into your name 2 years ago, it will not be subject to the Pennsylvania Inheritance Tax.

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Dying Without a Will in Chester County, PA, and how it effects stepchildren

Posted on Mon Oct 27, 2014, on Intestacy, Dying Without a Will

If you die without a will in Pennsylvania you are said to die “intestate”. If you die intestate, your probate assets are divided up under the Pennsylvania Intestate Rules. These rules can easily be avoided by writing a will, but if you do not have a will, the Intestacy Rules are in place to clearly state who inherits your probate property in order to avoid conflict.

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Executors and Pennsylvania Inheritance Tax in Chester County, PA

Posted on Fri Oct 17, 2014, on Probate and Estate Administration

Question: As the Executor, if I sell my mother’s Chester County home, do I have to pay the Pennsylvania probate tax before dividing up the sale proceeds with my siblings?

First, let’s clarify a few things. In Pennsylvania the “probate tax” is the Pennsylvania Inheritance Tax. Because the estate is being divided up between the mother’s children, that rate is 4.5% on the date of death value of her entire taxable estate. The house is included in that taxable estate.

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