Posted on Tue May 16, 2017, on
An irrevocable trust is a powerful estate planning tool. It provides individuals with significant control and protection during their lifetime and after their passing. Once established, an irrevocable trust is designed to be unchangeable. The Trust also offers numerous advantages, such as minimizing estate taxes, shielding assets from creditors, and […]
Klenk Law
Posted on Wed Apr 26, 2017, on
Estate planning is essential for all children, but Estate Planning for a special needs child requires special care. Typically, a special needs child’s parents are familiar with the various applicable government programs. Often, parents invest a great deal of time and effort in qualifying for these programs. If the parents […]
Klenk Law
Posted on Wed Apr 26, 2017, on
If you have named your children as beneficiaries of your qualified plans (IRA, ROTH, 401k, TIAA-CREF, etc.), you have likely made a mistake. An outright beneficiary designation needlessly exposes the IRA to your children’s spouses, to their creditors and future inheritance and estate taxes. Since 2006 Congress has provided the […]
Klenk Law
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.”
Klenk Law
Posted on Wed May 4, 2016, on Special Needs Estate Planning
Our “Ask a Question” mailbag addresses the question, how to equalize inheritances with a special needs child.
“My estate is only large enough to provide care for my Special Needs child. So how do leave an equal amount to my other two sons? Is there a way to equalize inheritances with a special needs child with siblings?”
Klenk Law
Posted on Sat Dec 26, 2015, on Special Needs Estate Planning
From our “Ask a Question” mailbag: My adult daughter is a Special Needs Child who has always lived in Burlington County, New Jersey. She will likely always live here and always need care. She is currently eligible for and using Medicaid. When I die, I want to leave her some money, but I don’t want to disqualify her for Medicaid. What can I do?
Klenk Law
Posted on Tue Mar 11, 2014, on Revocable Trusts and Living Trusts
If you are reading this Article, someone has likely told you that you need or should have a “Revocable Trust” or a “Living Trust”. In fact, you might have been told a horror story about what will happen if you do not have a Living Trust. You also might have attended a seminar where you were told that a Living Trust is a cure-all, and that for a certain dollar amount someone will draft a Revocable Living Trust for you and give it to you in a handsome, faux leather binder.
Is a Revocable Living Trust Right for you? Let me first give you some quick thoughts, then debunk some Revocable Living Trust myths and half truths. Finally, lets talk about the good things a Revocable Living Trust can do so you can deduce if the cost of setting up a Revocable Living Trust makes sense for you.
Klenk Law
Posted on Mon Jan 8, 2024, on Probate and Estate Administration
From Our “Ask a Question” Mailbag: “I am getting older, and when I die, I want the process to be as easy as possible for my children. What steps can I take to make the process painless? What are your suggestions on how to prepare for Probate?” How to Prepare […]
Klenk Law
Posted on Tue Feb 28, 2023, on Probate and Estate Administration
From Our “Ask a Question” Mailbag: “What steps can I take to make Probate easy for my son? Can you tell me how to make Probate boring?” How to Make Probate Boring? Since the beginning of ownership, humans have had Probate. Probate is the process we go through to divide […]
Klenk Law
Posted on Fri Apr 16, 2021, on
Estate Planning Lawyer NJ Across the world, nearly everyone should be making decisions over how they are planning for their future; one critical component to this process is to reach out to our NJ estate planning lawyer. Estate planning can be beneficial to many individuals and not just the rich. […]
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 Klenk made a complex subject understandable and allowed us to move forward with our estate planning. He was patient with our questions and creative in the solutions he proposed.
Affable...yet surprisingly cerebral estate planning atty. High marks all the way around.
Excellent, knowledgeable team handled a complicated issue with superb results.
Peter was excellent. He explained everything very clearly and is super friendly. My wife and I originally tried using a lawyer through group legal coverage, but unfortunately the old adage - "you get what you pay for" - applied to the other lawyer, and we decided to go with a real professional.
I've worked with and known Peter Klenk and his associates for years. They are highly professional, diligent and truly experts in their field. By focusing on just wills, trusts, and estates, Klenk law has experienced every angle of estate planning and applied that knowledge to help prepare our clients with thorough and comprehensive documents.
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