While there is no estate tax in Pennsylvania, there is an inheritance tax that is imposed a decedent’s estate where there are assets located with the jurisdiction of the state. The rate of the inheritance tax varies depending on the relationship between the heirs of the estate and the person who died.
Although no inheritance tax is imposed on transfers of property and other assets to a surviving spouse or from a parent to children who are under the age of 21, there are three different tax rates that apply in all other circumstances. A four and one-half (4.5%) percent tax rate is imposed on transfers to all lineal descendants such as children and grandchildren; a twelve (12%) percent tax is applied on transfers from a decedent to surviving siblings; and a fifteen (15%) percent tax rate is imposed against transfers to a niece, a nephew, a cousin or a family friend. The only other exceptions to the imposition of Pennsylvania inheritance tax are for transfers to charitable organizations or transfers of life insurance. Pennsylvania inheritance tax applies even to the estates of non-resident decedent’s who nonetheless still own assets at the time of their death that are located in Pennsylvania.
American Wills & Estate is a locally founded, owned and operated law firm that has been guiding clients in Pittsburgh and throughout Western Pennsylvania through the Probate Estate Administration process with competency, compassion and care for over 25 years.
Why choose our law firm? It’s simple really:
- Our practice is limited to Estate Planning & Probate Estate Administration
- Our attorneys have over 145 years of combined legal experience
- We offer the majority of our legal services on an affordable flat fee basis
- We have a number of convenient office locations and also provide home, hospital, evening and weekend appointments upon request; and
- We are by far the best reviewed probate estate administration law firm in Pittsburgh
If you need help with the administration of a loved one’s estate and are not sure where to turn for trusted, experienced and, most importantly, affordable legal assistance, give us a call today to schedule your free legal consultation or visit our law firm online. You’ll be glad you did!