Legal Question in Civil Litigation in Pennsylvania

My father died in 2007, yes it is now 2014. i am the administrator he had uncashed dividend checks, $ amount unknown. i have asked the company to reissue the checks to me in his name. i was told by my bank to get an ein number and open an estate account, depending on the $ amount. will i have to pay inheiratence tax, regular tax and/or his taxes on this money? will his debtors collect payment/track me down? i have not received any of his bills lately. what is the $ amount that i will or won't have to open an estate account? what, if any, are the dangers to me of getting an ein #? what is the safest way for me to cash these checks and hold on to as much as i can?


Asked on 1/31/14, 3:24 am

1 Answer from Attorneys

From you zip code I assume your father lived in Phila. If so, estate information and forms are available at the Philadelphia Register of Wills website: http://secureprod.phila.gov/wills/estates.aspx. Regardless whether the checks were cashed before his death, your father should have been issued a 1099-DIV for them at that time and declared them on his regular income tax returns. The income therefore would not be attributable to the estate but the amount of the reissued checks would be an asset of the estate. As administrator, it is your obligation to establish the estate (obtaining an EIN and opening an estate bank account are part of that)., honestly declare the assets, and pay the inheritance tax. Inheritance tax forms are at http://www.revenue.state.pa.us/portal/server.pt/community/inheritance_tax/14695.

This is general information for educational purposes and not legal advice. For legal advice concerning your specific issues, you should consult an attorney.

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Answered on 1/31/14, 12:12 pm


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