Posted on Sun May 11, 2014, on Estate Planning
Any good estate plan considers the tax ramifications of your death and the possible ways to reduce those taxes. If your estate plan also includes giving money to charity, then a charitable remainder trust might be a useful tool that not only provides you with a way to fulfill your charitable gift, but also reduce your taxes.
Klenk Law
Posted on Thu Sep 20, 2012, on Estate Planning
Rightfully so, much emphasis is being put on utilizing Gift Giving strategies that are scheduled to disappear on January 1, 2013. But when considering these strategies, don’t forget gift strategies that have worked in the past and continue to be cornerstones of most estate plans.
Take Advantage of The Annual Gift Exemption: When congress created the Gift Tax to plug loopholes that existed in the Federal Estate Tax, they created several categories of gifts that were considered “good gifts”, not subject to the gift tax. One of these exemptions is an annual gift to any number of persons. That rate is now adjusted for inflation, and for 2013 is a maximum of $13,000. Couples can lend each other the exemption so together can give $26,000 to any number of individuals. These gifts are then excluded from the estate and pass Gift and Estate Tax free to the recipient.¹
Klenk Law
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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!
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Flora Novick
A very friendly knowledgeable experience. I would recommend and use them again.
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!!
Overall I great experience with Daniella and the rest of her team to work with me for my fathers estate. Never was an issue that couldn’t be fixed. I highly recommend klenk Law firm.
Very easy to deal with. Like the fact they are focused on estate planning and their expertise in this area shows. Peter and staff were helpful and easy to communicate with.
Jackie M. at Klenk Law is dynamite.!! She is certainly an asset to this firm. Knowledgeable, personable, and dedicated to her craft.
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