From Our “Ask a Question” Mailbag: “My mother gave me a cash gift early this year. Do I need to report this on my income tax return? Is a gift subject to income tax?” Is a Gift Subject to Income Tax? At the end of the year, it is not […]
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It is very common for people to believe that estate planning is only for the wealthy. Here’s why that’s not true, and why it matters to you. When anyone—not just a wealthy person—creates an estate plan, they are empowering themselves by taking control over crucial decisions in their life. These […]
Can I Revoke or Terminate a Revocable Living Trust? A revocable trust is flexible, so it remains a popular estate planning choice for individuals and families. Unlike an irrevocable trust, you can add or remove assets held in a revocable trust at any time. Furthermore, the trustee is you, most […]
The majority of contested estates and wills occur because one or more family members are not happy with how the decedent’s estate is to be distributed – more specifically – how that distribution will affect them directly. Making sure your family understands the reasons for your decisions and respecting those […]
One of the main purposes of this meeting is to not only tell the attorney about the case but to make decisions about hiring the probate attorney. Bring a list of questions to ask the attorney about his or her experience. Questions may include how long the attorney has practiced […]
Whether you are planning for your future or in the process of resolving the estate of a loved one, it may be in your best interest to enlist the assistance of Philadelphia probate attorneys you can trust. Our team at Klenk Law knows the process of probate can seem not […]
If the idea of preparing a will feels overwhelming, know that you are not alone. For many people, it is a daunting task to not only create a legal document, but have to think about a time when you are no longer here with those you cherish most. Writing a […]
If you’ve been named a trustee, you should get in touch with a trust administration lawyer. Trust administration is a serious process, and if you fail to follow all the steps in accordance with the last wishes of the decedent, you could be sued. As a trust attorney, like one […]
Simple Steps to Avoid Probate Probate, which is the process of transferring a deceased person’s property to living people, can cost thousands of dollars and take several months, even when no one is contesting the outcome. When families disagree about what should happen to a decedent’s estate, legal costs skyrocket […]
From Our “Ask a Question,” Mailbag: “I am the executor of my father’s estate. My father gave me the house, and the rest is divided equally between my two sisters and me. My sisters are angry about this. They refuse to sign the family settlement agreement and keep threatening to […]
