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Tag: Standard of Care for Fiduciaries

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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Fiduciary Liability

Posted on Tue May 22, 2012, on Estate Litigation

I. Standard of Care for Fiduciaries:

A. Prudent Person Standard: The standard of care to which a fiduciary is held in Pennsylvania is that of “common skill, prudence and caution as a prudent man, under similar circumstances, would exercise in the management of his own estate.” In re Estate of Denlinger, 449 Pa. 393, 396, 297 A.2d 478, 480 (1972); In re Musser’s Estate, 341 Pa. 1, 9-10, 17 A2d 411, 415 (1941); In re Estate of Lohm, 440 Pa 268, 269 A.2d 451 (1970); In re Estate of Lerch, 399 Pa. 59, 159 A.2d 506 (1960).

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