Boca Raton, FL asked in Estate Planning and Tax Law for Pennsylvania

Q: In PA how much is the tax rate if there was no beneficiary on a IRA and it goes to an estate then passes to adult child

My Dad never updated his will but he left everything to his girlfriend and she said she is going to distribute everything between her and the 3 children evenly. Wondering about taxes and if I should get an attorney to make sure it’s done fairly. 350k+ in assets and investments mostly traditional IRA

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1 Lawyer Answer
Michael Cherewka
Michael Cherewka
  • Estate Planning Lawyer
  • Wormleysburg, PA
  • Licensed in Pennsylvania

A: Not sure how to read your question, but if you mean by "never updated his will" that your dad DID have a will and his girlfriend received everything under the will, then you will definitely want to meet with a PA estate attorney. if the will is probated and the girlfriend does not file any disclaimers, she could be entitled to everything , and since they were not married the PA Inheritance Tax would be 15%. There is also Federal Income Tax due on the IRA. It might be possible to lower the PA Inheritance Tax by using disclaimers but will need to meet with an estate attorney and will also need girlfriend's cooperation

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