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Pennsylvania House of Representatives
05/13/2024 07:09 PM
Pennsylvania House of Representatives
https://www.legis.state.pa.us/cfdocs/Legis/CSM/showMemoPublic.cfm?chamber=H&SPick=20150&cosponId=19410
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House Co-Sponsorship Memoranda

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House of Representatives
Session of 2015 - 2016 Regular Session

MEMORANDUM

Posted: December 19, 2015 02:55 PM
From: Representative Jordan A. Harris
To: All House members
Subject: Exemptions for Inherited Property Under $75,000
 
In the near future, I will be introducing legislation to ease the burden on low-income individuals who inherit property.

My legislation will exempt estates valued at $75,000 or less, where the only asset is real property, from the following requirements:
  • Advertisement of the grant of letters.
  • Payment of fees levied for probate of wills and granting of letters.
  • Payment of the inheritance tax.

Under current law, the representative of an estate must advertise the grant of letters in the local newspaper and the legal publication designated by the court, which requires paying a fee to place the advertisement. An additional fee, which varies by county, is required to probate a will. Lastly, Pennsylvania’s inheritance tax is levied on all estate transfers, regardless of the value of the estate. Without the assistance of monetary assets as part of an inheritance, fulfilling these requirements can bring greater financial strain to an already struggling individual. This is a burden our low-income individuals should not have to bear simply because a family member or friend passed away and left a home behind as a sole asset.

My legislation consists of two bills that amend Title 20 (Decedents, Estates and Fiduciaries) of the Pennsylvania Consolidated Statutes and the Tax Reform Code of 1971. Please join me in co-sponsoring both bills to support reducing the amount of time and money an indigent person must spend in connection with an estate they have inherited.


Document #1

Description:
The first bill amends Title 20 (Decedents, Estates and Fiduciaries) of the Pennsylvania Consolidated Statutes as follows:
  • Exempts the representative of an estate not exceeding $75,000 where the only asset is real property from the requirement to advertise the grant of letters; and
  • Specifies that no fee shall be levied for probate of wills and granting of letters testamentary or letters of administration if the decedent’s estate does not exceed $75,000 and the only asset is real property.
 

Document #2

Description:
The second bill amends Section 2107 (Transfers Subject to Tax) of Act 2 of 1971, known as the Tax Reform Code of 1971, to provide that an estate not exceeding $75,000 where the only asset is real property is exempt from the inheritance tax.