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I have a question about money my father's estate, We received a settlement due to asbestos litigation

Philadelphia, PA |

My father, who died in 1988 just received a sum in the amount of $5200.
I know that the Estate owes 331. in inheritance tax. Do I also have to file Pa state tax ( or federal) The total amount of the Estate was below 500,000.

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Attorney answers 2


Your facts are not clear, but I will try to help. If the recovery is $5,200 then the PA Inheritance Tax on it (assuming no expenses to offset it) would be $234 based on a 4.5% inheritance tax rate. Pa has no minimum for filing, so you must file a PIT return. You report all his assets and offset them against administrative and funeral expenses, last illness expenses, and debts that existed at his death. As far as federal, you would have to research (or hire estate tax counsel to research) the applicable estate tax unified credit in 1988 to determine if his estate exceed the exemption amount. If it did, you would have to file a federal estate tax return.

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The wheels of justice sometimes grind slowly, but I am sure that over the past 22 years you have received settlements in addition to this $5,200.

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