What are my tax liabilities when I die?

Estate Taxes and Family circumstances are huge factors in why it is necessary to have a Will.  If you have an estate tax issue, you must make sure to take advantage of all credits and exemptions available to you by law. The Federal Estate Tax is a 40% rate, the Pennsylvania Inheritance Tax begins at 4.5% and goes up from there. You need to make sure you know what the liabilities are, and plan in the most tax efficient way possible.