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Tag: Pennsylvania

19 May, 2015

When should I expect to receive my inheritance?

From our “Ask a Question” mailbag: My Grandmother died three years ago in Lehigh County leaving me a lump sum in her Will. The house is sold and 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 Lehigh estate, you have the right to force the executor to provide you with a timeline for when you will receive your inheritance. If the executor will not give you one voluntarily, you can have your Lehigh County Orphans’ Court lawyer file a Petition for Accounting with the court. The executor must reply, or face potential removal and surcharge.

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13 May, 2015

How to File a Formal Accounting to Bring The Estate to an End

From our “Ask a Question” mailbag: I have served as the Executor for my mother’s Delaware County estate for over a year and wish to close the estate, but my brother claims that I have embezzled money from the estate. This is ridiculous, but how can I close the estate while he makes these claims?

It is unfortunate that your brother is making these claims, but there is a forum available to you that will allow you to bring the estate to a close.

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8 May, 2015

Do lifetime transfers avoid estate tax in Delaware County, PA?

From our “Ask a Question” mailbox: My father wants to transfer a rental property he owns in Delaware County into my name. If he does, will this gift avoid Pennsylvania Inheritance Tax?

As a Delaware 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.

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7 Apr, 2015

Where should I store my power of Attorney in Delaware County?

I have signed a General Power of Attorney giving my daughter the power to act for me, but I don’t want her to have it yet. I only want her to have it when (and if) I become unable to care for myself. Should I keep it in my safe deposit box? We both live in Delaware County, so she is close by.

The problem with putting your General Power of Attorney in your safe deposit box is, if you become incapacitated, your daughter will likely be unable to get into the box. If you have died, there is a process to open the box… but it is much more complex if you are alive, but incapacitated.

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6 Apr, 2015

Finalizing an Estate as Executor in Lehigh County, PA

I am the executor of my mother’s estate in Lehigh 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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5 Apr, 2015

Do I owe PA inheritance tax on this real estate transfer?

My Mother transferred her Lehigh County home to me two years ago. She 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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4 Apr, 2015

Will transferring a property before death avoid taxes?

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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3 Apr, 2015

Who should I nominate as executor in Philadelphia County?

I live in Philadelphia County, and my Will names my two children as co-executors. I thought this was a natural thing to do, but my children have not been getting along recently, what are my options?

Naming your children as co-executors when they do not get along is a bad idea. Co-executors have to work well together and cooperate. Children who are having a dispute can make what is a small family dispute into a family feud that lasts generations.

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2 Apr, 2015

Compelling an Executor to Release Inheritance in Delaware County, PA

My Grandmother died three years ago in Delaware 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 Delaware 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 Delaware County Orphans’ Court lawyer file a Petition for Accounting with the Delaware County Orphans’ Court.

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30 Mar, 2015

Attorney Fees for Serving as Co-Executor in Delaware County, PA

I am the co-executor of my Mother’s Delaware 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 Delaware 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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