“Is life insurance included in the PA inheritance tax?”
Many people are surprised to find that Pennsylvania does not include life insurance proceeds in the taxable estate of the deceased.
This makes life insurance – which is already income tax free – an even more valuable asset in many people’s estates.
There are ways this can be (unintentionally) ‘messed up.’
Make sure your life insurance will go to your heirs free of income tax and inheritance tax by having your policies reviewed by a trusted financial advisor.
Schedule your review with a More than Money advisor right away.
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