Q. When I die, will my family have to pay inheritance taxes?

A. Maybe not. The Pennsylvania Inheritance Tax rate for lineal heirs like your children and grandchildren is 4.5% of what is left after the allowable deductions and exemptions. The tax rate for spouses however is now 0%.

Q.Can I sell my house without a real estate broker?

A. If you have a buyer who is able to obtain the financing to purchase your house, we can prepare the Agreement of Sale, assist you in clearing the title to your house, arrange for the use and occupancy permit, prepare the deed conveying title and assist you in the whole process including settlement.

Q. Are life insurance proceeds taxable in my estate?

A.The short answer is that life insurance proceeds are not subject to Pennsylvania Inheritance Tax. They are included in your estate for Federal Estate Tax purposes. However, that can be avoided by the use of an irrevocable trust.

Stapleton & Colden
Attorneys at Law
5030 State Rd., Suite 2-600
Drexel Hill, PA 19026
Phone: 610-259-1500
Fax: 610-259-5140