Posted on Tue Mar 3, 2015, on Power of Attorney
With the New Year comes a new law. The Pennsylvania Legislature has announced Act 95, which aims to provide greater protection for those granting a power of attorney.
Posted on Tue Mar 3, 2015, on Power of Attorney
With the New Year comes a new law. The Pennsylvania Legislature has announced Act 95, which aims to provide greater protection for those granting a power of attorney.
Klenk Law
Posted on Wed Feb 11, 2015, on LGBT Estate Planning
I am a New Jersey resident. Now that I have married my partner, I would like to give her a General Durable Power of Attorney, but am concerned about surrendering so much power over my assets. I have heard stories about spouses abusing Powers of Attorney. How can I protect myself?
A general, durable power of attorney is a key part of any estate plan. A Will covers what happens to your assets if you have died, but the durable power of attorney is meant to cover the time when you are alive yet unable to handle your own financial affairs. The problem that exists, and of which you speak, is that if you give your Agent the power of attorney document, they have the power to withdraw from your bank accounts, sell real estate and gather your tax information.
Klenk Law
Posted on Thu Feb 5, 2015, on Power of Attorney
My Mother, who lives in Burlington County, New Jersey is having serious health problems. She wants me to be able to use her general power of attorney, but it says I need a doctor’s note saying that she is incapacitated. Is that normal?
Your mother has a “Leaping” Power of Attorney, which at one time was the normal document that Burlington County Estate Planning Lawyers would prepare. A Leaping Power of Attorney gives the “Agent” the power to act for the person if — and only if — that person has become incapacitated and the Agent can secure a letter from the person’s doctor stating that the person is incapacitated. Without the letter the power of attorney is useless.
Klenk Law
Posted on Mon Jan 12, 2015, on Estate Planning
Periodically reviewing your Pennsylvania estate plan is critical. Significant life events including marriages, children and moving can dramatically affect how your assets are distributed. Other issues such as changes in state and federal laws can also affect your intended estate plan. In addition to your plan failing, old and unreviseddocuments can delay probate, and in some cases end up in litigation. These are some of the many reasons reasons to periodically review your estate plan to ensure it still reflects your intentions.
Klenk Law
Posted on Sun Nov 16, 2014, on Estate Planning
Changing your bank account into a Joint-Ownership account with your daughter or making her the account’s Payable-On-Death beneficiary avoids probate, but these are different tools addressing different situations and goals.
Klenk Law
Posted on Sat Nov 15, 2014, on Estate Planning
Changing your bank account into a Joint-Ownership account with your daughter or making her the Payable-On-Death beneficiary of the account avoids probate, but these are different tools addressing different situations and goals.
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
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.
Mr. Klenk, quickly understood the circumstances presented and provided clear and concise advice. This advice provided me with the information I required to progress the case to my advantage.
Peter and his associates made things easy for us.
I met Peter soon after he started his practice in Philadelphia, PA. He and his team have always been there for me and my various inquiries throughout my life-changing events, corporate relocations. I have lived in various cities throughout the nation, I have never had a problem in contacting Peter or a member of his team. He and his office responds quickly and returns calls to me to fulfill my requests for information or to revise my estate needs while posing relevant thought-provoking questions that I need to consider to secure my future. One of Peter's best qualities is his ability to answer clients complicated questions in a simple way to ensure comprehension.
Peter and his staff handled all of our needs in a very professional and timely matter.
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