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From Our “Ask a Question” Mailbag: Pennsylvania Contract to Will Most Recently Updated August 9, 2018. “I love my wife, but she is an Ohio State Buckeye Graduate. We have no children, and I know if I die first she will change her Will to give all our money to […]
From our “Ask a Question” Mailbag: Can Just Anybody Attend a Funeral Most Recently Updated August 9, 2018. “My mother was dating a much younger man before her death. We jokingly called him her “boy toy.” He is a nice man, but not really part of our family. In her […]
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?”
From Our “Ask a Question” mailbag: Can I leave my watch collection to my son in Trust? “Over the years I have put together an extensive watch collection. My wife and I recently had a son, and I wish to leave him the collection. Can I leave him the collection in Trust? Can a Trust protect an inheritance?”
From Our “Ask a Question” mailbag: “My mother died in Montgomery County, PA, and set up a trust for me in her will. The Trust pays out now that I am 40. I recently found out the trustee failed to pay the Trust’s income taxes for ten years. How do I prove that he committed a breach of fiduciary duty? Can I make him pay the interest and penalty?”
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?”
From Our “Ask a Question” mailbag: My sister died recently in Montgomery County, PA, and her boyfriend is filing a forged will. Can I bring a will challenge? “My sister died and her boyfriend is filing a forged Will that gives him everything. The Will she wrote several years ago gives her money to her daughter. Her daughter is hesitant bring a Will challenge. Can I file the Will challenge for her?”
From Our “Ask a Question” mailbag: Do my husband’s parents inherit his estate? “My husband died without a Will in Chester County, PA. He owned real estate and had several accounts in his name alone. He had no children, but his parents are both alive. Do my husband’s parents inherit his estate?”
Ask a Question” mailbag: “Can my son use my power of attorney to give away all my property?”
A Durable Power of Attorney gives your “Agent” the right to make financial decisions on your behalf during your lifetime. Each power of attorney can be unique. I need to examine your actual document to answer the question, can your son use that particular document to legally make gifts to himself, but here are some facts. A durable power of attorney can give your son the right to make unlimited gifts. In other words, your Power of Attorney could allow your son to legally leave you penniless.
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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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
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
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D.P.
Like another reviewer, I contacted Peter through his website using the free consultation link, for a question regarding PA inheritance taxes. The question was quite technical and difficult to explain, and the answer was nowhere to be found on the web. Peter grasped precisely what I was asking, and provided a clear, helpful response (with a touch of humor) the very next day.
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A Google User
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
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Chantee C.
Peter recently gave a presentation about Wills & Trusts at my employer, and it was fantastic! He was extremely knowledgeable and provided valuable information to the group. People were very engaged and asked several questions, all of which Peter thoroughly answered. Personally, my husband and I have selected Peter to help us with our estate planning, and he has been very helpful in providing us with all of the information we need to provide a secure future for our family. Thank you, Peter!
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A.R.
Peter and his associates made things easy for us.
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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.