What does a Pennsylvania probate inventory require?
A verified inventory of all the decedent's real and personal estate, except real estate outside Pennsylvania, filed with the register of wills under 20 Pa.C.S. 3301. It is due no later than the personal representative's account or the due date of the inheritance tax return, including extensions, whichever comes first. The statute prescribes no form of appraisal and no appraiser class, so executors choose how to support the values, and a report prepared for the REV-1500 usually serves both filings.
Does a surviving spouse owe Pennsylvania inheritance tax?
No. Transfers to a surviving spouse are taxed at zero percent, as are transfers to a parent from a child aged 21 or younger, and property jointly owned by spouses is exempt. Everything passing to children, siblings, or others is taxed at 4.5, 12, or 15 percent on its value, which is why the household contents still need a supported figure.
How does Pennsylvania divide personal property in a divorce?
Equitably, not equally. Under 23 Pa.C.S. 3502 the court divides marital property in such percentages and in such manner as it deems just, and it may apply a different percentage to different assets or groups of assets. An appraisal of the vehicles, collections, or business interest gives the court and both lawyers a value to apportion.