Posted on Tue Jan 12, 2016, on Estate Planning
From our “Ask a Question” mailbag: I want to give my daughter some money as a gift, but not tell my other children. I am worried that, at my death, the other children will find out and claim the gift was a loan and try to make her return the money. How can I reduce the chance of a fight?
Klenk Law
Posted on Mon Jan 11, 2016, on Estate Planning
From our “Ask a Question” mailbag: My caregiver has been with me for over two years and is a saint. I want to give her a gift in my will, but I am worried my children will think that this was her idea and try to stop the gift. What do you suggest?
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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"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
Very knowledgeable and easy to work with. Also very competitive pricing. Recommended to me by another attorney. First class service from start to finish.
Jackie was fantastic! She helped prepare our will, her professionalism and organization was top notch! We highly recommend Jackie and Klenk Law.
The whole process of ensuring that I can provide my mother her wishes upon her death, was made easy by working with the team at Klenk Law. I received my documents quickly and properly.
Jackie is amazing! I have asked her many questions and she answers them professionally and honestly. She is very informative !!!
Peter explains things in a practical way to help guide you through a rather daunting process. We have been using Klenk Law for years. Highly recommend.
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