QUESTION

What, if anything can I do so that my son does not have to pay Inheritance tax on my homes?

Asked on Jan 19th, 2015 on Estate Planning - Pennsylvania
More details to this question:
The home totals $350,000.
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1 ANSWER

Criminal Law Attorney serving Munhall, PA
Partner at Pelger Law
3 Awards
You really need to sit down with a lawyer and only make sure you give all of the facts to him or her. This is a decision that should be carefully made. Generally, the only way to avoid inheritance tax is to replace your name on the deed with his. If you put him on the deed with you it will reduce the amount you pay inheritance tax on by half, 175k. Again, get legal advice on this.
Answered on Jan 22nd, 2015 at 4:41 AM

William R. Pelger, Attorney Munhall, Pennsylvania 412-461-1900

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