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Pennsylvania Estate Inventory

Amherst, VA |

When preparing an estate inventory in Pennsylvania are joint savings accounts and CD's listed in the inventory. If they are what percentage is listed?

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Attorney answers 1


It depends on what type of joint ownership -- JTWROS or as tenants in common.

If the joint assets are owned with rights of survivorship, as would be the norm with joint savings accounts and jointly-owned CD's, then such joint assets pass as a matter of law and do not get listed on the PA Inventory (the PA inheritance tax return is another issue).

However, if joint assets are owned as tenants in common, which would be highly unusual for savings accounts or CD's, then you would list the percentage owned by the Decedent on the Inventory.

Good luck.

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