Estate & Inheritance Taxes in Pittsburgh, PA

Will your estate have to pay?

Every Pennsylvania estate will have to pay either federal estate taxes and/or Pennsylvania Inheritance Taxes.

Pennsylvania Inheritance Tax

In the Commonwealth of Pennsylvania, inheritance taxes are determined by who the beneficiary is.

  • A spouse inherits from a spouse tax-free;
  • A lineal descendant (children, grand-children, etc.) must pay a 4.5% tax on their inheritance;
  • A sibling must pay a 12% tax on their inheritance; and
  • Any other third party must pay a 15% tax on their inheritance.

Depending on a charities tax-exempt status, most charities do not have to pay inheritance taxes in Pennsylvania on the bequest that they receive. The Pennsylvania Inheritance Tax Form must be prepared, filed, and taxes paid within nine months of the date of death. If the tax form is prepared, filed, and taxes paid within ninety days of the date of death, you will receive a 5% discount on the amount of inheritance tax due and owing.

Federal Estate Tax

In calendar year 2014, everyone receives a $5,340,000 federal exemption on estate taxes. This means that at the present time, federal estate taxes are only due and owing on estates larger than $5,340,000. When you retain my services, I will review your financial situation and determine what options are best for your estate. There may be methods to help you properly avoid and/or reduce federal estate taxes.

Each individual's financial situation will be different, which is why I am dedicated to closely examining your specific situation. I will research your deductions and exemptions to ensure that your family receives as much money as possible from your estate. There are several exemptions and deductions that your property might be eligible for, including the following:

  • Personal estate tax exemptions
  • Marital deductions
  • Charitable deductions

Property that is left to a tax-exempt charity will not have to pay any estate tax, as well as any property that is left to your spouse. There will be allotments of personal exemptions, up to a set dollar amount, that your property might qualify for as well. No matter what financial situation your estate is in, I will work with you to find a solution for your tax concerns.

Contact my office to learn more about estate taxes!

My goal is to ensure that your estate is left behind to those who need it. I have worked with numerous clients to successfully secure exemptions from their estate taxes, providing more finances for their loved ones. Contact my law office today to discuss your financial situation.

IRS Circular 230 Disclosure: To comply with certain U.S. Treasury regulations, we inform you that, unless expressly stated otherwise, any U.S. federal tax advice contained in this communication, including attachments, was not intended or written to be used, and cannot be used, by any taxpayer for the purpose of avoiding any penalties that may be imposed on such taxpayer by the Internal Revenue Service. In addition, if any such tax advice is used or referred to by other parties in promoting, marketing or recommending any partnership or other entity, investment plan or arrangement, then (i) the advice should be construed as written in connection with the promotion or marketing by others of the transaction(s) or matter(s) addressed in this communication and (ii) the taxpayer should seek advice based on the taxpayer's particular circumstances from an independent tax adviser.