Posted on Fri Sep 9, 2016, on Probate and Estate Administration
From Our “Ask a Question” mailbag: “My father died recently in Burlington County, New Jersey. The executor told me that my dad set up a Trust Under Will for me. What is a Trust Under Will?”
Posted on Fri May 8, 2015, on Estate Planning
From our “Ask a Question” mailbox: My father wants to transfer a rental property he owns in Delaware County into my name. If he does, will this gift avoid Pennsylvania Inheritance Tax?
As a Delaware County resident, at your father’s death, all assets he leaves you at death (except life insurance) will be subject to the Pennsylvania Inheritance Tax at the 4.5% children’s rate.
Posted on Mon Jul 7, 2014, on Estate Planning
A Will is a legal document that specifies the beneficiaries who are to inherit your assets either outright or in trust. It is a good idea to consider the possibility that any beneficiary that you name in your will might die before you. If so, you can name an alternative beneficiary who will receive the asset.
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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