My late father had stock and wondering if I can have stocks transfered in my name, and what type of inheritance tax needs paid?

Attorney answers (3)

1. Licensed in PA

   

   Vera Ancone

   Pocopson Probate Attorney

   Contributor Level 3

   3

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   Answered August 27, 2012 10:31. In Pennsylvania, there is a 4.5% inheritance tax on the value of any assets inherited by a child from a deceased parent. Generally speaking, whether or not you can receive an "in kind" distribution of your father's stock will depend on whether the estate has enough liquid assets to pay its debts, taxes, funeral expenses, etc. If the estate is liquid and solvent, then you can certainly request that the personal representative of the estate make an in kind distribution of stock to you, rather than the monetary value of the stock.

   This response is meant simply to provide the questioning party with a general overview of the law, and does not... moreThis response is meant simply to provide the questioning party with a general overview of the law, and does not give rise to an attorney-client relationship. The questioning party should consult with an attorney before taking any action. less

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2. Licensed in PA

   

   Steven Zelinger

   Blackwood Probate Attorney

   Contributor Level 18

   3

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   Answered August 27, 2012 11:16. Ms Ancone is 100% correct and I could not have said it better myself.

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3. Licensed in PA

   

   Charles Rick

   Reading Family Law Attorney

   Contributor Level 15

   Answered September 01, 2012 09:47. I agree with Attorney Ancone. She provided an excellent and sound response to your question. I couldn't have explained it any better.

   If you found this answer helpful, let me know by clicking the "Mark as Helpful" button at the bottom of this... moreIf you found this answer helpful, let me know by clicking the "Mark as Helpful" button at the bottom of this answer. It’s easy and appreciated. This answer is provided for informational purposes only. This answer does not constitute legal advice and it does not create an attorney/client relationship. More importantly, the information contained in this answer should not be relied on. You should consult an attorney who practices in the relevant area of the relevant jurisdiction. less

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