Posted on Tue Jan 22, 2019, on Estate Planning
Every person should have an estate plan. No matter what you have, you earned it. An estate plan prevents your things from loss and waste. Regardless of your age, if you’re married, have kids or not, or your income status. An estate plan provides a structured, organized method for where your […]
Klenk Law
Posted on Mon Jan 14, 2019, on Estate Planning
Estate Attorney, Who To Turn To When Estate Planning Gets Uncomfortable Within a few years of reaching adulthood, most Americans have some understanding that it is important to draft a personal will. But, estate planning gets uncomfortable pretty quickly. Many may even be familiar with estate planning tools including health care […]
Klenk Law
Posted on Thu Sep 1, 2016, on Estate Planning
From Our “Ask a Question” mailbag: How do I disinherit my son? “My son is good for nothing bum, and I want to cut him out of my will. Can you tell me how to disinherit my son from my entire estate? I live in Cherry Hill, New Jersey.”
Klenk Law
Posted on Thu Jul 7, 2016, on IRA Trust
The IRA Trust, An Underutilized Estate Planning Tool.
To ensure that your money passes on only to your direct descendants, consider forming an IRA Trust.
All qualified plans (IRA, Roths, 401ks, SEPs, TIAA-CREF, etc.) allow you to name a beneficiary to receive the plan at your death. But, if this person is your child, they will have the chance to defer income tax recognition by converting the plan into an “Inherited IRA”. BUT, with an “Inherited IRA” your child, not you, has the ability to name a beneficiary. And it is likely this beneficiary will be your daughter-in-law or son-in-law rather than your grandchildren.
Klenk Law
Posted on Wed May 4, 2016, on Special Needs Estate Planning
Our “Ask a Question” mailbag addresses the question, how to equalize inheritances with a special needs child.
“My estate is only large enough to provide care for my Special Needs child. So how do leave an equal amount to my other two sons? Is there a way to equalize inheritances with a special needs child with siblings?”
Klenk Law
Posted on Thu Nov 19, 2015, on Estate Planning
From our “Ask a Question” mailbag: My friend died and his executor is allowing his hosting account to lapse. Could he have set aside funds to maintain his website?
It is possible to set up a trust to maintain the cost of a website. This needs to be carefully done to provide checks and balances to make sure the trustee carries out your intent. I find a trusted Protector an excellent and inexpensive tool. If a person has a website that he wishes to continue after death, it is important to make sure access data is easily available to the executor.
Klenk Law
Posted on Tue Oct 6, 2015, on Guardianship
From our “Ask a Question” mailbag: My sister suffers from mental illness, and is currently so depressed she cannot get out of bed. She is a smart woman and has a house and plenty of savings. Our brother is a parasite, and has filed a petition to have her declared incapacitated so he can be put in charge of her money. I am sure he will steal her money if he is given the chance. What can I do?
The Guardianship process in Pennsylvania gives all interested parties the chance to bring to the court’s attention concerns about the incapacitated person and the security of their assets. You, as an interested person, have the right to retain an attorney who is experienced in Guardianship hearings to bring your concerns to the court’s attention.
Klenk Law
Posted on Wed Nov 12, 2014, on Estate Planning
If you die without a will in New Jersey you are said to die “intestate”. If you die intestate, your probate assets are divided up under the New Jersey Intestate Rules. These rules can easily be avoided by writing a will, but if you do not have a will, the Intestacy Rules are in place to clearly state who inherits your probate property in order to avoid conflict.
Klenk Law
Posted on Fri Nov 7, 2014, on Estate Planning
If you die without a will in New Jersey you are said to die “intestate”. If you die intestate, your probate assets are divided up under the New Jersey Intestate Rules. These rules can easily be avoided by writing a will, but if you do not have a will, the Intestacy Rules are in place to clearly state who inherits your probate property in order to avoid conflict.
Klenk Law
Posted on Fri Oct 3, 2014, on Estate Planning
If you are a Chester County resident with a will, following your death your executor will take your death certificate, the original copy of your will, a checkbook and an ID card to the Chester County Register of Wills Office to be sworn in as the executor of your estate.
Being an executor means that this person is a fiduciary with many responsibilities and duties. Selecting the correct person for the job is a vital part of your estate plan.
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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"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
Peters' firm has prepared and updated our Wills and Trusts for the last 15 to 20 years. They know the law and help with your decision making to use the law to your best advantage. Response time to your requests is very reasonable, and final reviews and signing is executed in a timely manor with a thorough coverage of the documents. Our most recent updates to our Wills & Trusts were somewhat complicated, in our opinion, but Peter and his staff handled them effortlessly. As you can tell from this review Peter Klenk's firm is top notch.
I have worked with three different attorneys and law firms over the years, and I can confidently say that attorney Peter Klenk stands out as the most knowledgeable. He created the most thorough wills and trust documents I've ever had. Mr. Klenk took the time to gather all the necessary details about my current situation and goals. As a result, he put together comprehensive documents that I believe will effectively protect my assets and ensure my children's inheritance is secure.
What truly sets Mr. Klenk apart is his patience and dedication to understanding my questions. He provided detailed explanations that made complex legal concepts much easier to grasp. His team's communication and scheduling were equally impressive, making the entire process smooth and stress-free.
Thank you, Mr. Klenk, and your fantastic team, for your exceptional service!
My experience with Klenk Law was nothing shy of amazing. I had done some quick research when searching for an estate attorney and was immediately drawn to Klenk Law being a veteran owned business and due to their support for veterans, first responders, and teachers . Every member of their staff was knowledgeable and patient through every step of the process and with all of my questions. They were honest and transparent with pricing and expectations. They were very timely with communications and kept me in the loop throughout the process. I will definitely recommend Klenk Law to friends and family.
I knew I needed to update my Estate Planning documents created 15 years ago, yet I kept putting it off. Peter, in his no pressure way nudged me to finally check it off my list. The admin staff of Klenk law were very respectful and responsive in working with me to set up dates and times that work for me to talk with Peter over the phone regarding what I wanted to update. Peter answered my questions and explained some things to me. This helped me on some of my estate decision. After our phone talk, I received a draft of the updated documents, and was allowed ample time to review them prior to a final review with Peter over the phone. This pre-signing reviews made the in-person signing time very short. I would highly recommend Klenk Law, because Peter and his staff were professional but friendly, and thorough in the estate planning work they did for me. Thank you, Peter!
very happy to deal with Peter Klenk law firm over many decades
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