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Estate Planning Questionnaire and Worksheets Pennsylvania Form

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Estate Planning Questionnaire and Worksheets Pennsylvania Form

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if you've just been informed that you're going to receive an inheritance and you're wondering am I going to have to pay income tax on this the answer is generally no most wills will provide that the executor will pay all the inheritance tax before it comes to you you do need to be very careful if you're receiving an IRA or 401k you might have some taxable income and if the estates large is large it might generate some taxable income for you a very important question to ask the executor or ask the attorney representing the executor am I going to have any income tax consequences but basically the federal estate tax and the inheritance tax should be paid before it comes to you so most of the money that comes to you on your inheritance is not going to be subject to income tax

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