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August 2014 Archives

Pennsylvania Inheritance Taxes for Siblings and Others

Last Wills and Testaments may leave property to siblings, nieces, nephews, cousins or even non-family members.  These inheritances are subject to Pennsylvania inheritance taxes.  Siblings pay a 12% inheritance tax while nieces, nephews, cousins or non-family members pay a 15% inheritance tax. Depending on the type of assets, there may be other tax implications as well.  Planning for this type of inheritance with an elder alw attorney to help reduce these taxes can be important.   

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