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My father didn’t own much when he passed away. We didn’t even probate his will. Do we still need to file a Pennsylvania Inheritance Tax Return?

A misconception many people have is that not having to probate an estate means not having to pay Pennsylvania inheritance tax. This is simply not true. More often than not, property that is not subject to probate (non-probate property) is subject to inheritance tax. For instance, property owned as joint tenants with the right of survivorship between individuals who are not husband and wife and annuities and individual retirement accounts, regardless of whether there is a beneficiary designation, are subject to inheritance tax. It is important to know that an inheritance tax return must be filed and the tax paid within nine months of an individual’s death. Failure to pay the tax due will result in interest accruing on the total amount owed. Contact Steinbacher, Goodall & Yurchak at 1(800) 351-8334 for your FREE consultation.

 

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