Legal Question in Tax Law in Pennsylvania

Are there any tax repercussions to me if my mother & I open a joint checking and savings account with her being the primary account holder, and my name as secondary?


Asked on 8/04/09, 9:07 pm

1 Answer from Attorneys
Solomon Weinstein Solomon Weinstein, Esquire

Under certain circumstances your mother may have to be pay inheitance tax on her own money if you as a co owner predeceased her. The titling of the account may also have consequences. In addition there may be issues if your mother becomes ill and has to go into a nursing home. You would be best to discuss this with an attorney.

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Answered on 8/13/09, 6:21 pm


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