Allocating the liability for paying the Pennsylvania inheritance tax and federal estate tax in a manner consistent with the testator’s intentions is a crucial, if often overlooked, component of good will-drafting. Relying on canned form language to cover such taxes can have serious unintended consequences in estates where there are both charitable and non-charitable beneficiaries, or individuals with different inheritance tax rates. What can you do to avoid such results?
This webinar will examine the issues underlying the proper use of tax apportionment clauses, including:
- What types of estate plans can lead to tax apportionment problems?
- What are the default statutory rules covering tax apportionment?
- When should the will alter the default results?
- When should the residue of the probate estate be burdened with the death taxes imposed on non-probate transfers?
- When will the personal representative have personal liability for nonpayment of death taxes?
Learn how to draft the tax apportionment clauses that will carry out your clients’ intentions.
Recorded during a live webinar in June 2018.