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Tag: Kelly Barse

Income-Tax

Who Pays the Income Taxes on a Revocable Trust?

Posted on Thu Nov 3, 2016, on Revocable Trusts and Living Trusts

From Our “Ask a Question” mailbag: “After being diagnosed with early-stage Alzheimer’s, I have been thinking about forming a Revocable Trust. Who pays the income tax on a Revocable Trust?”

A Revocable Living Trust can be a reliable tool in helping you manage your assets while suffering from Alzheimer’s. But, you should plan carefully and implement checks and balances.

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Inheritance

In New Jersey How Long Does It Take to Get an Inheritance?

Posted on Wed Aug 17, 2016, on Probate and Estate Administration

From Our “Ask a Question” mailbag: “My Uncle died 4 months ago in Burlington County, New Jersey. I am in the Will. How long does it take to get an Inheritance?”

The time it takes to get an inheritance can vary widely between estates in New Jersey. Many factors that can impact a Personal Representative. The concern I have is that the Personal Representative is not adequately communicating his or her plan of action. An Executor or Personal Representative should clearly communicate to you an estimate of when you are receiving your inheritance.

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Can an Estate Pay for Care a Child Provided to a Parent?

Posted on Sun Feb 7, 2016, on Probate and Estate Administration

From our “Ask a Question” mailbag: Before he died, my dad lived with me in Gloucester County, New Jersey for several years. My wife and I took him to the doctor and cared for him when he became bedridden. He died without a will and all his assets are being divided between my brothers and I equally. They never helped with his care. This is not fair. Can I make the estate pay me for my time?

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Who should I nominate as executor in Philadelphia County?

Posted on Fri Apr 3, 2015, on Estate Planning

I live in Philadelphia County, and my Will names my two children as co-executors. I thought this was a natural thing to do, but my children have not been getting along recently, what are my options?

Naming your children as co-executors when they do not get along is a bad idea. Co-executors have to work well together and cooperate. Children who are having a dispute can make what is a small family dispute into a family feud that lasts generations.

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What Our clients are saying

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MJG

Affable...yet surprisingly cerebral estate planning atty. High marks all the way around.

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Ellen G.

I have had Peter Klenk prepare and revise my will. Always professional, knowledgeable and offers great advice. Highly recommend

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Anna B.

Professional, cheerful, thorough and fast. Peter responded to my request for a consultation right away, and within just a few days my last will and living will were done. Rates are standard.

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Rachel Roney

Peter has done a great job with the estate planning for my father. He is very thorough and patient as we, the family need to make decisions.

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Sharon S.

I contacted Peter through his website using the free consultation link for a question regarding a will. While I was expecting only a few minutes, it was a lengthy conversation. He made sure he understood the situation by asking many questions before offering advice. He then went through my options and results of each one. He left it up to me to decide if I wanted to proceed and did not push me toward one or another. His website has very useful information which I definitely researched before I called him. While I decided not to proceed at this time, I feel I had enough information to make that decision. I would not hesitate to hire him should I need to in the future.

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