Posted on Wed Dec 19, 2018, on Probate and Estate Administration
From Our “Ask a Question” Mailbag: “Please give me Examples of Avoiding Probate.” Examples of Avoiding Probate: Avoiding Probate with a Revocable Living Trust. Mr. Philadelphia had his Estate Planning Lawyer draft a Revocable Living Trust. Mr. Philadelphia served as the sole trustee during his life and moved all […]
Klenk Law
Posted on Sat Nov 10, 2018, on Revocable Trusts and Living Trusts
New Jersey Trust Lawyer Divorce can be a huge adjustment not only for you but for your children as well. The life you once knew is likely to change completely. During this time, you will be making a number of changes to your life. Unfortunately, it’s not uncommon for people […]
Klenk Law
Posted on Sun Nov 26, 2017, on Estate Planning
From Our “Ask a Question” Mailbag: Keeping the Family Home in the Family Most Recently Updated August 10, 2018. “I am the first homeowner in my family, and I worry that someday my children might need to return home to collect themselves. While I am alive, I will always keep […]
Klenk Law
Posted on Fri Nov 3, 2017, on Revocable Trusts and Living Trusts
From our “Ask a Question” Mailbag: Pros and Cons of a Living Trust Most Recently Updated August 10, 2018. Pros and Cons of a Living Trust A living trust is just like a will. It is a legal document. It spells out all of their desires regarding assets, dependents, and heirs. […]
Klenk Law
Posted on Mon Dec 12, 2016, on Revocable Trusts and Living Trusts
Our “Ask a Question” mailbag addresses a question about Amending a Revocable Trust. “Is amending a Revocable Trust difficult? How do I go about amending a Revocable Trust I formed in 1998, as I have some necessary updates?”
Klenk Law
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.
Klenk Law
Posted on Fri Sep 9, 2016, on Revocable Trusts and Living Trusts
From Our “Ask a Question” mailbag: “I have been diagnosed with early stage Alzheimers. I have heard that setting up an “unfunded trust” for long-term care might be a good idea. What is an unfunded trust and how is a trustthat is unfunded useful?”
When planning for Alzheimers, the term “unfunded trust” refers to a Revocable Living Trust which you set up but in which you currently put no assets. Because it is currently not “funded” with any assets, we call it an “unfunded trust.”
Klenk Law
Posted on Wed Feb 17, 2016, on Elder Financial Scams
From our “Ask a Question” mailbag addresses providing protection from scams.
“My mother is having trouble managing her finances, and I discovered she wrote a check to some person who called her on the phone. It wasn’t much, but she was confused and in the future might get scammed out of a large sum by some telemarketer or criminal. She needs protection from scams. Can a revocable living trust or an Irrevocable Trusthelp protect her?”
Klenk Law
Posted on Thu Jan 28, 2016, on Trusts
From our “Ask a Question” mailbag: I have been reading about trusts to avoid probate. Can a trust help my estate avoid probate?
Trusts come in all shapes and sizes and can help you meet many different goals. If your goal is to avoid probate, you could use a Revocable Living Trust, or you could use any number of different Irrevocable Trusts. Both categories help your estate avoid probate.
Klenk Law
Posted on Wed Sep 9, 2015, on Revocable Trusts and Living Trusts
From our “Ask a Question” mailbag: I had a Revocable Living Trust created several years ago, but I have not put anything into it. I own my Philadelphia home, a few bank accounts and investment accounts. I want everything to pass to my daughter at my death, but she lives in California, so I want the transfer to be easy. Should I move my house from my name into the Revocable Trust?
The goal you have stated in forming your Revocable Living Trust was to make things easier on your daughter who lives in California. Though your intentions are good, without moving the house into the trust you really have done nothing to help her.
The basic idea surrounding a Revocable Living Trust is that during your lifetime you either move your assets into the trust or you set things up so that at your death, they pour into the trust.
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
Peter and his team are great to work with. They make estate planning so easy and painless. They answered all of my questions clearly and helped me understand the best way to handle complicated finances and things like real estate investments. Thank you Klenk Law!!
I have worked with three different attorneys and law firms over the years, and I can confidently say that attorney Peter Klenk stands out as the most knowledgeable. He created the most thorough wills and trust documents I've ever had. Mr. Klenk took the time to gather all the necessary details about my current situation and goals. As a result, he put together comprehensive documents that I believe will effectively protect my assets and ensure my children's inheritance is secure.
What truly sets Mr. Klenk apart is his patience and dedication to understanding my questions. He provided detailed explanations that made complex legal concepts much easier to grasp. His team's communication and scheduling were equally impressive, making the entire process smooth and stress-free.
Thank you, Mr. Klenk, and your fantastic team, for your exceptional service!
Overall I great experience with Daniella and the rest of her team to work with me for my fathers estate. Never was an issue that couldn’t be fixed. I highly recommend klenk Law firm.
This law firm was super helpful with answering all my questions! Huge props specifically to Riley for their enormous assist with helping me get where I needed to go. They were fantastic!!!
Fantastically easy and efficient team to work with getting our wills done. We will use Klenk again in the years to come. I highly recommend Peter Klenk.
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