Second attempt - no response to first

[Critical Mass]

What is the name of your state? PA

(this is the short version... the full story can be located in this forum in message "Executor is Suffering")

1) House owned by two parties in joint survivorship. One dies, house goes to second party automatically. The house was the only asset at time of death. Does Will need to be probated?

2) In order for the survivor to pay Inheritance Tax, does the Will need to be probated?

3) Original Will is missing. Only a copy, and copies of the copy can be found. Is this a problem whether or not the Will needs to be probated?

 

[Dandy Don]

How are the other 2 beneficiaries related to the decedent?

How much is the house worth (what would it sell for) and how much is the mortgage?

Is the house mentioned in the will?

Your friend needs to stop listening to the advice of friends who are unqualified to give legal advice and instead consult a local probate attorney. If the deed was done correctly the paperwork may be in order and there may be no need to probate the copy of the will.

No need to worry about the other beneficiaries--even if they were notified, there is nothing in the estate that they have any legal claim to. Inhertance tax doesn't even apply here--there is an up to $2 milliion exemption, so you would only have to pay if the estate was worth more than that.

DANDY DON IN OKLAHOMA ([email protected])

 

[ShyCat]

Dandy Don, be careful with those blanket statements and mischaracterizations. You're actually referring only to the Federal estate tax (ahem, not an inheritance tax) and it's current $2 million exemption. Pennsylvania has an inheritance tax that is paid by each beneficiary, with the rate determined by whether the beneficiary is a lineal descendent, a sibling or other.

http://www.estateattorney.com/pa1500.htm

 

[Critical Mass]

Thanks, guys...

The other beneficiaries mentioned are an estranged son (Alex's father) and HIS son (Alex's brother) who haven't spoken to Alex or his grandfather in years.

House is worth about $140K, with about half of it paid off. As far as mentioning it in the Will, it's not specifically mentioned. After the finances are given out, "The remainder of the estate" goes to Alex. And the Register of Wills in City Hall said deed looks legit, Alex automatically inherits the house.

His thinking is also, since the house is not paid off, does he pay the full inheritance tax, since the bank still owns half the house? Technically, he only inherited a $35K portion of the house.