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Klenk Law

Tag: Gloucester County

New Jersey Rules on Funeral Directives – What You Should Know

Posted on Thu Feb 5, 2015, on Funeral Directive

Often the most sensitive question when estate planning – where and how do you want your remains disposed? I realize this appears morbid, but it is a necessary consideration. In New Jersey, the State has established default rules when a Will is silent on the issue, or if the testator fails to designate a specific person with authority over the decision. Similar to intestacy, these rules are utilitarian in nature. As with any one-size fits all rule, there will likely be family conflict and litigation.

The New Jersey Pour Over Will – A Safety Net for Your Trust

Posted on Fri Jan 30, 2015, on Revocable Trusts and Living Trusts

I am a resident of Gloucester County, New Jersey. If I have recently formed a Revocable Living Trust and moved all my New Jersey assets into the trust, do I still need a will?

If the goal in forming your Revocable Living Trust was to avoid probate, then you must either transfer all your assets that would otherwise be Probate Assets into the trust during your lifetime or have them pour into the Revocable Trust at your death. That is often done by using a Payable on Death Account or naming the Trust as Beneficiary.

Dying Without a Will – Intestacy Succession for Foster Kids

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.

Distributing Estate Assets Safely in Gloucester County, NJ

Posted on Fri Oct 3, 2014, on Probate and Estate Administration

Question: I am the executor of my mother’s estate in Gloucester County, New Jersey. How do I know when it’s safe to distribute the assets of an estate?

As the executor of an estate, that person is a fiduciary, and owes a duty to the beneficiaries. The executor also is the representative responsible to satisfy all valid estate debts prior to making distributions. Creditors include any taxes due, such as the mother’s final income tax return and the New Jersey Estate Tax return.

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Peter has done our family's trust and estate work since our children were born. He is not only extremely knowledgeable and honest but makes sure that our arrangements remain current with the changing legal landscape. I would give him my highest recommendation as a professional in his field.

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I met Peter soon after he started his practice in Philadelphia, PA. He and his team have always been there for me and my various inquiries throughout my life-changing events, corporate relocations. I have lived in various cities throughout the nation, I have never had a problem in contacting Peter or a member of his team. He and his office responds quickly and returns calls to me to fulfill my requests for information or to revise my estate needs while posing relevant thought-provoking questions that I need to consider to secure my future. One of Peter's best qualities is his ability to answer clients complicated questions in a simple way to ensure comprehension.

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