Legal Question in Wills and Trusts in Pennsylvania

taxes for money from will

My grandmother left me money in her will, do I have to pay taxes on this

Asked on 11/07/07, 2:02 pm

1 Answer from Attorneys

William L. McLaughlin, Jr. McLaughlin Law Offices

Re: taxes for money from will

No, you personally will not owe

taxes on the inheritance if the estate is probated. However, it is very likely that the estate of your grandmother will owe estate or

inheritance taxes which normally reduces what you get. The exception being that if you are left money or other assets directly through a beneficiary designation or "in trust for" account, you may have to pay the tax on the money you received. Contact

the executor or administrator of the estate to see how the taxes will be paid. Bill McLaughlin

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Answered on 11/07/07, 4:41 pm

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