Skip to Content
Klenk Law

Free Consultation

Call Today: 215-790-1095

We are a Veteran Owned Business, providing 20% discounts for Veterans, First Responders, Elementary and High School teachers. Please contact us to set up a phone or Zoom meeting. Taking care of you and your family, It's What We Do!

Call Today: 215-790-1095
Free Consultation
Call Today: 215-790-1095
Free
Consultation
Klenk Law

Tag: Grantor Retained Annuity Trusts

Don’t forget the Tried-And-True Gifting Strategies in 2012

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

Read More

Klenk Law

Categories

Subscribe

Free Consultation

    PRIVACY STATEMENT

    "No mobile information will be shared with third parties/affiliates for marketing/promotional purposes. All the above categories exclude text messaging originator opt-in data and consent; this information will not be shared with any third parties. It is for use in setting consultation only. We will call or email you to schedule. If you receive a text, you may OPT OUT by replying STOP back to 215.790.1095"


    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!

    Free Consultation

      Client Review

      "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
      Client Review

      Areas Served:

      Philadelphia PA, Allentown PA, King of Prussia PA, Montgomery County PA, Bucks County PA, Doylestown PA, Jenkintown PA, Marlton NJ, Moorestown NJ

      What Our clients are saying

      Klenk Law Logo
      Stars

      Dave Wong

      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.

      Klenk Law Logo
      Stars

      Marilyn Dolgoff

      I worked with Daniella to settle my father’s estate. She was kind, efficient, knowledgeable, and made the entire process seamless. I highly recommend working with Daniella.

      Klenk Law Logo
      Stars

      Jeff Bretz

      Both Melissa and I thank Jackie and Daniella, and your firm for excellence in the handling of Mary's estate!!!

      We look forward to working with you in the future on other family estate matters.

      Klenk Law Logo
      Stars

      Callista O “Callista O” Chukwunenye

      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!

      Klenk Law Logo
      Stars

      Kate Parghi

      Wonderful Experience working with the team

      Let us put our expertise to work for you.

      Free consultation within 24 hours.

      Phone Ringing CALL US
      Write Us WRITE TO US