Posted on Tue Mar 7, 2023, on Klenk Law Podcast
What You Need to Know About Estate Planning & Second Marriages Hello, let’s talk about death and taxes. This is Peter Klenk, trust and estate attorney, primarily practicing in Pennsylvania and New Jersey. I’ve been doing this for a long time, so it is a well-known fact that […]
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Posted on Mon Dec 12, 2016, on Special Needs Estate Planning
From Our “Ask a Question” mailbag: “I want to set up a Special Needs Trust for my son in my Will. Can I fund a Special Needs Trust with life insurance?”
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Posted on Sun Nov 6, 2016, on Life Insurance
Our “Ask a Question” mailbag addresses the question, how much life insurance should I have?
“I recently had a baby, and it is time to buy some life insurance. But, I feel like I am being sold rather than advised. How much life insurance should I have? Lastly, is there a general rule about how much life insurance I should have as part of my estate plan?”
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Posted on Fri Sep 9, 2016, on Probate and Estate Administration
From Our “Ask a Question” mailbag: “My father died recently, and I am the executor. I will file his Will next week. But my siblings have already contacted the life insurance company to collect the life insurance. Can they receive the life insurance before I file the Will? Is collecting life insurance before filing the Will proper?”
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Posted on Fri Sep 9, 2016, on Probate and Estate Administration
From Our “Ask a Question” mailbag: “My father at his death gave my brother, and I equal amounts. My brother got life insurance, and I got the house and cash. The Will says the residue pays all taxes. Do we split the New Jersey Estate Tax on life insurance?
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Posted on Thu Sep 8, 2016, on Life Insurance
From Our “Ask a Question” mailbag: Life Insurance is a Non-Probate Asset, Unaffected by You Will:
“My sister went to jail, so mother changed her Will and gave me the entire estate. She forgot to remove my sister from her life insurance. Now I hear life insurance is a Non-Probate Asset. Who gets the life insurance?”
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Posted on Thu Jun 30, 2016, on Life Insurance
Ask a Question” mailbag: I need life insurance as part of my estate plan to cover the cost of my son’s college tuition and pay off the mortgage. What policy best fits my needs?
First, focus on the reasons for why you are purchasing life insurance. Life insurance is an excellent Estate Planningtool, but only if you are clear as to its purpose.
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Posted on Wed May 11, 2016, on Life Insurance
The “Ask a Question” mailbag addresses the question, how much life insurance do I need?
“How do I calculate how much life insurance do I need as part of my estate plan? My principal goal is making sure I provide for my children until they graduate from college.”
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Posted on Sun Apr 17, 2016, on Life Insurance
Our “Ask a Question” mailbag addresses naming children as beneficiary.
“Should my life insurance name my children as beneficiary?”
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Posted on Wed Dec 23, 2015, on Estate Planning
From our “Ask a Question” mailbag: Last year, my mother died in Chester County and named me as beneficiary of her life insurance. As my children were the contingent beneficiaries, I decided to disclaim the inheritance, so the insurance money passed to my children. I was recently in a car accident. If I am sued, can they claim that life insurance money?
Klenk Law
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!
"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
Peter provided outstanding advice and preparation of a will and trusts.
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.
Peter explained a complex subject very clearly, helped us to decide the best approach to managing our estate and then made it very easy for us to execute the required documents. He will be a valuable resource for years to come and clearly has a great understanding of estate law that will lead to innovative solutions for us. I would unhesitatingly recommend him for estate planning.
Peter is a model attorney who puts his clients first at all costs. His extensive expertise in estate planning and tax planning was a great comfort as we began, and have expanded, our family. He is very thoughtful, generous, and quick witted. His approach towards his business has been an inspiration to his peer group, and his zest for life is extremely infectious. Without reservation, I highly recommend Peter as trusted and cherished counsel
Mr. Klenk has been easy to work with. I am confident he has given me good advice whenever I have called upon him. He has shown good work ethic and depth of knowledge in preparation of estate, wills, and trusts that I have worked with him on.
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