Settlement with Widow Not Allowed Spousal Inheritance Tax Rate

Decedent failed to maintain a life insurance policy required by an antenuptial agreement with his widow, but the amount paid by the estate for the benefit of the widow under a negotiated settlement agreement did not qualify for the 0% inheritance tax rate because the widow did not elect against the will within the time allowed by statute, and because there was no court-approved compromise under 72 P.S. § 9116(d) and the beneficiaries under the will did not file renunciations of any interests as required by 72 § 9116(c). Toland Estate, 12 Fid.Rep.3d 27 (Montgomery O.C. 2021), on appeal, 147 CD 2021 (Cmwlth. Ct.).

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