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The Pennsylvania Inheritance Tax is levied on the net estate value at the date of death, meaning the fair market value of the estate’s assets less the expenses of the estate administration and existing debts.
The Pennsylvania Inheritance Tax is levied on the net estate value, meaning the fair market value of the estate’s assets less expenses and debts.
If repairing the house for sale is reasonable, and the expenses paid are reasonable, they will be deducted from the sale proceeds when calculating the net estate.
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.
Beneficiaries of Camden County estates will often approach us asking our help in keeping an eye on the estate’s executor. This is often the result of the executor not sharing information about the estate with the beneficiary, the executor’s unreasonable delays, or when the executor’s behavior has raised the beneficiary’s concern.
When we are asked about what steps a beneficiary can take to keep an eye on the executor, I will outline various options, such as:
Beneficiaries of Delaware County estates will often approach us asking our help in keeping an eye on the estate’s executor. This is often the result of the executor not sharing information about the estate with the beneficiary, the executor’s unreasonable delays, or when the executor’s behavior has raised the beneficiary’s concern.
When we are asked about what steps a beneficiary can take to keep an eye on the executor, I will outline various options, such as:
Beneficiaries of Bucks County estates will often approach us asking our help in keeping an eye on the estate’s executor. This is often the result of the executor not sharing information about the estate with the beneficiary, the executor’s unreasonable delays, or when the executor’s behavior has raised the beneficiary’s concern.
When we are asked about what steps a beneficiary can take to keep an eye on the executor, I will outline various options, such as:
Beneficiaries of Chester County estates will often approach us asking our help in keeping an eye on the estate’s executor. This is often the result of the executor not sharing information about the estate with the beneficiary, the executor’s unreasonable delays, or when the executor’s behavior has raised the beneficiary’s concern.
When we are asked about what steps a beneficiary can take to keep an eye on the executor, I will outline various options, such as:
Beneficiaries of Montgomery County estates will often approach us asking our help in keeping an eye on the estate’s executor. This is often the result of the executor not sharing information about the estate with the beneficiary, the executor’s unreasonable delays, or when the executor’s behavior has raised the beneficiary’s concern.
If you are a Montgomery County resident with a will, following your death your executor will take your death certificate, the original copy of your will, a checkbook and an ID card to the Montgomery County Register of Wills Office to be sworn in as the executor of your estate.
Being an executor means that this person is a fiduciary with many responsibilities and duties. Selecting the correct person for the job is a vital part of your estate plan.
Question: I am the Executor of a Montgomery County estate and the trustee of the trust into which the estate assets pour. The trust is for my brother. He is the beneficiary of the estate. What do I do when the beneficiary’s lawyer does not engage me?
Careful! First, the executor needs to understand that the beneficiary of the estate is not the brother; the beneficiary of the estate is the trust for the brother. The brother is a beneficiary of the trust, but he is not the heir of the estate. He may have an attorney, but the executor may be giving that attorney too much power over estate matters.
Peter Klenk is the founding member of Klenk Law, a seven attorney boutique estate planning law firm. We serve clients in Pennsylvania, New Jersey, New York, Minnesota and Florida. Peter Klenk received his Masters in Taxation LL.M. from NYU Law School and his J.D. from the University of Minnesota Law School. He served his country in the Navy JAGC during Desert Storm. Easy to talk to, feel free to call Peter for an appointment. We will make the process as easy as possible!
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"I worked for Peter Klenk for 4 wonderful years. I can’t speak highly enough of everyone at the firm. Everyone truly cares about their clients and has a strong sense of responsibility to get things done right. I would highly recommend Klenk Law!" Flora Novick
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Philadelphia PA, Allentown PA, King of Prussia PA, Montgomery County PA, Bucks County PA, Doylestown PA, Jenkintown PA, Marlton NJ, Moorestown NJ
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Mr. Klenk has been easy to work with. I am confident he has given me good advice whenever I have called upon him. He has shown good work ethic and depth of knowledge in preparation of estate, wills, and trusts that I have worked with him on.
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Like another reviewer, I contacted Peter through his website using the free consultation link, for a question regarding PA inheritance taxes. The question was quite technical and difficult to explain, and the answer was nowhere to be found on the web. Peter grasped precisely what I was asking, and provided a clear, helpful response (with a touch of humor) the very next day.
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Everything about my experience was a 10+! Peter and his staff made what I thought would be a difficult process easy and understandable. Every detail was handled correctly. No other firm could possibly do better than Klenk Law!
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Peter is a model attorney who puts his clients first at all costs. His extensive expertise in estate planning and tax planning was a great comfort as we began, and have expanded, our family. He is very thoughtful, generous, and quick witted. His approach towards his business has been an inspiration to his peer group, and his zest for life is extremely infectious. Without reservation, I highly recommend Peter as trusted and cherished counsel