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Dying With a Homemade Will in Delaware County, Pennsylvania

Posted on Mon Jan 5, 2015, on Estate Planning

Many Pennsylvania residents die without a Will. Many will die unexpectedly before they can prepare a Will, but most people simply just don’t get around to writing a Will. If you die without a Will in Pennsylvania, you are said to die “Intestate”, or without testamentary documents. It is not true that if you die without a Will in Pennsylvania that your assets pass to the state. Instead, a set of rules decide who is in charge of your estate and to whom your assets pass.

In some instances, Pennsylvania residents attempt to draft a homemade Will, believing they can clearly and legally express their intentions. Without an in depth knowledge of Will drafting, even clear and simple language can fail as ambiguous. Ambiguity in homemade wills leaves Leaving Pennsylvania Estates open to outcomes contradicting the drafter’s written intent. In order to highlight this point, we will take a look at a recent case before the Delaware County Orphans’ Court where a homemade Will failed and partial intestacy resulted.

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Providing for Family After Death Through Marital Trusts in Montgomery County, PA

Posted on Thu Jan 1, 2015, on Trusts

Ensuring the financial well being of family after death is a fundamental concern for clients when estate planning. By Trust or by Will, various strategies exist to satisfy that concern. Keeping up to date on real cases helps ensure our strategies are appropriately tailored to your needs.

The Orphans’ Court of Common Pleas of Montgomery County, Pennsylvania recently ruled on one family’s strategy in Zucker Estate. This case provides insight into how accurate trust drafting can achieve your financial support goals. The court focuses on the marital trust and critical difference between exclusive and non-exclusive powers of appointment. A factual background will serve as a point of reference for the key takeaways in Zucker.

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Camden County Executor Expense Reimbursement 

Posted on Mon Dec 29, 2014, on Probate and Estate Administration

As the executor of an estate, your expenses incurred in handling the estate are reimbursed from the estate assets. Typical examples are filing fees, parking fees, and money that you pay to have the estate assets secured or cleaned.

You are also reimbursed for reasonable travel costs that were incurred only because of the estate. For example, if you would have paid the airfare to attend your mother’s funeral whether you were the executor or not, then you would not be reimbursed. However, if you had to travel to the Surrogate’s office to file the will, then that cost can be reimbursed. You can be reimbursed a reasonable amount, which can include mileage on your auto.

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Pennsylvania Wrongful Death and Survival Action

Posted on Mon Dec 22, 2014, on Estate Litigation

What recourse exists when a loved ones death is caused by the negligent, reckless or intentional actions of another? In most instances, the family will ask the Personal Representative of the estate to bring Wrongful Death and Survival Action claims. Although they are frequently brought together, there are key differences to focus on, and consider, when bringing these claims in any state. This article uses the Pennsylvania Wrongful Death and Survival Action statues, which are similar but not identical to those in neighboring New York and New Jersey, to address these differences between a Wrongful Death and Survival Action. For each claim we’ll examine (1) who can bring the claim when, (2) why the claim is brought, and (3) how the proceeds are divided.

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Peter Klenk Selected to Teach Pennsylvania Bar Institute’s CLE Seminar

Posted on Mon Dec 8, 2014, on Estate Planning

The Pennsylvania Bar Institute, the continuing education arm of the Pennsylvania Bar Association, selected Peter Klenk, the principal at Klenk Law, to teach their CLE seminar on the estate planning impact of Pennsylvania’s Uniform Trust Act. Peter was part of a panel of attorneys chosen for their estate planning expertise and familiarity with Pennsylvania’s Uniform Trust Act.

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An Explanation of Crummey Powers and Crummey Trusts

Posted on Thu Nov 20, 2014, on Life Insurance

Summary: In 2014, a trust utilizing Crummey powers allows an individual to contribute $14,000 a year ($28,000 for married couples) into a trust without diminishing the lifetime gift tax exemption. Instead, the gift is exempt from the gift tax under the Annual Gift Tax Exclusion. These gifts can help avoid the 40% Federal Gift Tax, preserving wealth for the family.

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The Klenk team smoothly helped my family with the often thick and cumbersome estate planning documents. We would recommend them for this type of work! Thank you, Klenk Law!

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A very friendly knowledgeable experience. I would recommend and use them again.

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Peter and his team are great to work with. They make estate planning so easy and painless. They answered all of my questions clearly and helped me understand the best way to handle complicated finances and things like real estate investments. Thank you Klenk Law!!

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