Legal Question in Wills and Trusts in Pennsylvania

Someone's uncle died in 2005. His Estate was worth 4 million dollars. A Trust fund was set up for his nephew to receive interest on the principal until he dies. Once the nephew dies, the funds will then go to the nephew's son as per the will. I understand that the nephew's son will have to pay a skip generation tax, but will the tax be based on the Federal Estate Tax Laws in place when the uncle died in 2005... or will the skip generation tax requirement be based on the laws in effect when the nephew dies?

Thanks


Asked on 1/04/11, 1:12 pm

1 Answer from Attorneys
Miriam Jacobson Retired from practice of law

Tell the "someone" and his nephew that this is a complicated tax question and he should consult with an experienced estate/tax lawyer.

This response is not legal advice, since I do not have all of the information that would be required, and I do not have a representation agreement with you.

* If the answers to your question confirm that you have a valid issue or worthwhile claim, your next step should almost always be to establish a dialog with a lawyer who can provide specific advice to you. Contact a lawyer in your county or township.

* Another reason for contacting a lawyer is that it is often impossible to give a good answer in the Internet Q&A format without having more information. The unique circumstances of your situation and things that you may not have thought to mention in your question may completely change the answer. If you want to be sure that you have a complete answer to your question and an understanding of what that answer means, establish a connection with a lawyer who practices in the area of your concern..

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Answered on 1/09/11, 2:18 pm


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