Legal Question in Tax Law in Pennsylvania

Inheritance tax

my dad recently died, he had a cd for $10k jointly held in my name and his name. some say (an attorney friend)i owe inheritance tax on 50% of this,some say (the bank) the ''right of survivorship'' comes in to play and i owe nothing.which of these is true?


Asked on 2/23/09, 8:26 am

1 Answer from Attorneys
Solomon Weinstein Solomon Weinstein, Esquire

Re: Inheritance tax

In general you will be subject to inheritance tax on 50% of the value assuming your father died in Pennsylvania. If your dad had other assets in his name alone then an estate would have to be opened and his will if he had one probated.

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Answered on 2/23/09, 11:13 am


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