The following message was sent to the Pennsylvania Bar Association on or about 6/29/2020 by Lora A. Kulick, Senior Counsel in the Office of Chief Counsel of the Department of Revenue: “The department recently received inquiries regarding whether it was … Continue reading
Tag Archives: Inheritance Tax
[5/6/2020 Update: The IRS has updated its “Economic Impact Payment Information Center” FAQ to include the following new Q10: “Q10. Does someone who has died qualify for the Payment? (added May 6, 2020)“A10. No. A Payment made to someone who died...
The Pa. Department of Revenue recently posted the following on its website: “Due to the recent closing of commonwealth and county office buildings to help prevent the spread of COVID-19, the Department of Revenue is aware that taxpayers have been … Continue reading
A ninety year old woman suffering from dementia was unable to change her domicile, so her estate was not subject to inheritance tax even though her son had moved her from New York to an assisted living facility in Pennsylvania … Continue reading
There have been attempts from time to time in the Pennsylvania House of Representatives to repeal the Pennsylvania inheritance tax, but those attempts have always died in the Senate. It is therefore noteworthy that a bill to repeal the inheritance … Continue reading
The Webcalculators website for online estate, trust, tax, and financial calculators now includes a projection of the value of a “sole use trust” for the benefit of a surviving spouse with and without the election to pre-pay the inheritance tax … Continue reading
Below is an overview/explanation from Webcalculators. For an article addressing the pros and cons of the election, and drafting to allow disclaimers of interests that would prevent the treatment of a trust as a sole use trust, see “‘Sole Use … Continue reading