theresa_a_lux
Junior Member
What is the name of your state? Pennsylvania
My Dad recently passed away and left the following in my name as beneficiary:
two IRA accounts that total over $65,000.
two Death insurance policies that total $12,000
The county clerk's office says I don't have to probate because the estate is straight forward in that I am the beneficiary or joint on bank accounts. They said I would have to pay 4.5% inheritance tax on the money. Is this true? Is there anything else I need to do?
My name has been joint on my Dad's bank account for 8 years and that totals $30,000., but is decreasing as I've paid for the funeral, minor debt and medical bills. The clerk's office said I will have to pay a 4.5% tax on half the balance of these accounts. Do I need to hire an accountant to make sure everything is done correctly?
The Last Will lists me as the Executrix and sole Beneficiary.
There was one death insurance policy for $1,700.00 which was in the name of a divorced spouse - the Divorce decree nullifies this. This policy is now payable to my Dad's estate. The company wants me to get a Pennsylvania small estate affidavit (PA state code 3102). I don't want to hire an atty, the county clerk's office has not heard of this form and can't help me. Does anyone know where I can get this form? Or suggestions on how to proceed.
I still have to do my Dad's taxes for 2007, but probably not for 2008 - since he passed on Jan. 21, 2008. Thanks for any assistance in this matter.What is the name of your state?
My Dad recently passed away and left the following in my name as beneficiary:
two IRA accounts that total over $65,000.
two Death insurance policies that total $12,000
The county clerk's office says I don't have to probate because the estate is straight forward in that I am the beneficiary or joint on bank accounts. They said I would have to pay 4.5% inheritance tax on the money. Is this true? Is there anything else I need to do?
My name has been joint on my Dad's bank account for 8 years and that totals $30,000., but is decreasing as I've paid for the funeral, minor debt and medical bills. The clerk's office said I will have to pay a 4.5% tax on half the balance of these accounts. Do I need to hire an accountant to make sure everything is done correctly?
The Last Will lists me as the Executrix and sole Beneficiary.
There was one death insurance policy for $1,700.00 which was in the name of a divorced spouse - the Divorce decree nullifies this. This policy is now payable to my Dad's estate. The company wants me to get a Pennsylvania small estate affidavit (PA state code 3102). I don't want to hire an atty, the county clerk's office has not heard of this form and can't help me. Does anyone know where I can get this form? Or suggestions on how to proceed.
I still have to do my Dad's taxes for 2007, but probably not for 2008 - since he passed on Jan. 21, 2008. Thanks for any assistance in this matter.What is the name of your state?