Posted on Sun Feb 14, 2021, on Power of Attorney
Durable Power of Attorney, often overlooked! While you may have your will or trust established for what happens to your assets after you die, you may not have thought about what happens if you can no longer make decisions for yourself. You may need someone to make critical decisions […]
Klenk Law
Posted on Sat Mar 14, 2020, on Medical Power of Attorney Living Will
From Our “Ask a Question” Mailbag: “I am worried about getting ill and my family not having the documents necessary to take care of me. What Estate Planning for Medical Emergencies do your suggest?” Estate Planning for Medical Emergencies. Hope for the best, plan for the worst. If you become […]
Klenk Law
Posted on Tue Feb 26, 2019, on Power of Attorney
From Our “Ask a Question” Mailbag: “Can you provide examples of Power of Attorneys Being Useful?” A General, Durable Power of Attorney is an essential part of every estate plan. This article assumes you know some basics about Powers of Attorney. If you are not, or would like a refresher, […]
Klenk Law
Posted on Sat Jun 9, 2018, on Power of Attorney
Medical Power of Attorney and the Primary Functions. A Medical Power of Attorney is a document. We call the signing person the principal. A principal must be a competent adult. The document directs a person that the principal trusts to act as a medical agent […]
Klenk Law
Posted on Wed Sep 7, 2016, on Power of Attorney
From Our “Ask a Question” mailbag: “I have heard stories about Power of Attorney abuse and theft. So, where do I keep my Power of Attorney?”
Power of Attorney abuse is a real problem. A typical durable general power of attorney gives your “Agent” the authority to access your accounts and sell your assets. These capabilities are essential so your Agent can take care of you. But, they are also powers that can lead to theft and fraud.
Klenk Law
Posted on Wed Aug 10, 2016, on Power of Attorney
Ask a Question” mailbag: “Can my son use my power of attorney to give away all my property?”
A Durable Power of Attorney gives your “Agent” the right to make financial decisions on your behalf during your lifetime. Each power of attorney can be unique. I need to examine your actual document to answer the question, can your son use that particular document to legally make gifts to himself, but here are some facts. A durable power of attorney can give your son the right to make unlimited gifts. In other words, your Power of Attorney could allow your son to legally leave you penniless.
Klenk Law
Posted on Fri Jun 17, 2016, on Power of Attorney
From our “Ask a Question” mailbag: “After a 10-year relationship my Partner and I have parted ways. Previously, I gave him a General Durable Power of Attorney, but now he won’t return my Power of Attorney. Can he use this to empty my bank account?”
Klenk Law
Posted on Wed Oct 21, 2015, on Power of Attorney
From our “Ask a Question” mailbag: My brother named me his agent under his Atlantic County, New Jersey power of attorney. Now my sister claims I embezzled and stole money using that power of attorney. How do I clear my name?
As agent, you are permitted to retain an Atlantic County Surrogates Court Attorney to assist you in filing a Formal Accounting of all your actions as Agent. This accounting is then provided to all interested parties, who are free to either accept the terms or object. If they file objections, you are then able to address these objections in front of a judge. In the end, the judge then rules on the evidence presented.
Klenk Law
Posted on Tue Sep 15, 2015, on Power of Attorney
From our “Ask a Question” mailbag: I have signed a General Power of Attorney giving my girlfriend the power to act for me, but I don’t want her to have it yet. I only want her to have it when (and if) I become unable to care for myself. Should I keep it in my safe at home? We both live in Bucks County, so she is close by.
The problem with putting your General Power of Attorney in your safe is that if you become incapacitated, your girlfriend will likely be unable to get into the safe. You could give her the combination to the safe, but that runs contrary to your wish. If she has the combination, she can get to the General Power of Attorney at any time. This is a common problem.
Klenk Law
Posted on Mon Sep 14, 2015, on Power of Attorney
From our “Ask a Question” mailbag: Years ago, I gave my husband a General Durable Power of Attorney. Now I am divorced, living in Montgomery County, and I want to give Power of Attorney to my daughter. My Ex will not give me the old Power of Attorney. Can I revoke or void the Power of Attorney if he still has the original?
Yes, you can void a Power of Attorney at any time as long as you have the requisite mental capacity. Your situation will be a little more complex, as you have given the original document to your former agent. I have not seen that Power of Attorney, but it may have a paragraph that states that banks and others need not confirm with you that the document is still in power.
Klenk Law
Peter Klenk is the founding member of Klenk Law, a seven attorney boutique estate planning law firm. We serve clients in Pennsylvania, New Jersey, New York, Minnesota and Florida. Peter Klenk received his Masters in Taxation LL.M. from NYU Law School and his J.D. from the University of Minnesota Law School. He served his country in the Navy JAGC during Desert Storm. Easy to talk to, feel free to call Peter for an appointment. We will make the process as easy as possible!
"I worked for Peter Klenk for 4 wonderful years. I can’t speak highly enough of everyone at the firm. Everyone truly cares about their clients and has a strong sense of responsibility to get things done right. I would highly recommend Klenk Law!"
Flora Novick
Great friendly staff
I met Peter soon after he started his practice in Philadelphia, PA. He and his team have always been there for me and my various inquiries throughout my life-changing events, corporate relocations. I have lived in various cities throughout the nation, I have never had a problem in contacting Peter or a member of his team. He and his office responds quickly and returns calls to me to fulfill my requests for information or to revise my estate needs while posing relevant thought-provoking questions that I need to consider to secure my future. One of Peter's best qualities is his ability to answer clients complicated questions in a simple way to ensure comprehension.
Peter explained things in a way that was easy to understand. Everything was done in the time frame he said it. Could not have been better!
Answered my question quickly and referred me to a colleague that could handle my problem
Very knowledgeable! Peter Klenk always has a thorough answer, and the associates have more experience than you'll find at most firms. They really only do estate work.
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