SENIOR SECRET OF THE WEEK: Joint bank accounts in PA Do you - TopicsExpress

SENIOR SECRET OF THE WEEK: Joint bank accounts in PA Do you have a joint bank account with someone other than your spouse? When you pass away, the other owner will have to pay inheritance tax on one-half of the account balance. (Inheritance tax is 0% for spouses). Keep in mind that if you add a child as a joint owner on your account, and the child pre-deceases you, you will have to pay inheritance tax on your own money!

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