The Pennsylvania Estate Information Sheet is a document used to provide information about a decedent's estate to the Register of Wills in the county where the decedent resided. It is necessary for the probate of a decedent's will and must be filed with the Register of Wills by the executor of the estate. The Pennsylvania Estate Information Sheet contains information such as the name of the decedent, the names of the executor and witnesses, the date of death, the names and addresses of heirs, the value of the estate, and the names of any creditors. There are two types of Pennsylvania Estate Information Sheet: the original for the Register of Wills and the duplicate for the executor. The duplicate is used to provide the executor with a record of the estate information that was provided to the Register of Wills.
Pennsylvania Estate information Sheet
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Pennsylvania inheritance tax rates A 4.5% tax rate applies to assets that go to lineal heirs. These include children, stepchildren and grandchildren. A 12% tax rate applies to collateral beneficiaries such as siblings. A 15% tax rate applies to other heirs such as nieces and nephews.
Ing to the Internal Revenue Service (IRS), federal estate tax returns are only required for estates with values exceeding $12.06 million in 2022 (rising to $12.92 million in 2023). If the estate passes to the spouse of the deceased person, no estate tax is assessed.318 Taxes for 2022 are paid in 2023.
Property owned jointly between spouses is exempt from inheritance tax. Effective for estates of decedents dying after June 30, 2012, certain farm land and other agricultural property are exempt from Pennsylvania inheritance tax, provided the property is transferred to eligible recipients.
Pennsylvania Inheritance Tax and Gift Tax No tax is applied to transfers to a surviving spouse or to a parent from a child under the age of 21. There is a 4.5% tax applied to transfers to direct descendants and other lineal heirs like grandchildren.
In Pennsylvania, it is only necessary to probate if the decedent owned assets, whether financial or real estate holdings, solely in their name which did not already have a beneficiary designated. Such assets are called probate assets, and in order to convey ownership of them it is necessary to probate.
All real property and all tangible personal property of a resident decedent, including but not limited to cash, automobiles, furniture, antiques, jewelry, etc., located in Pennsylvania at the time of the decedent's death is taxable.
Pennsylvania treats a son-in-law or daughter-in-law as if they are a child for purposes of the inheritance tax. As a result, there is a flat 4.5% PA inheritance tax on assets that pass to the wife or widow and husband or widower of the decedent's child.
The tax rate for Pennsylvania Inheritance Tax is 4.5% for transfers to direct descendants (lineal heirs), 12% for transfers to siblings, and 15% for transfers to other heirs (except charitable organizations, exempt institutions, and government entities that are exempt from tax).