Posted on Tue Apr 16, 2019, on Estate Planning
From Our “Ask a Question” Mailbag: “As an estate lawyer near me Doylestown, can you explain the estate planning documents suggested for someone getting married?” Estate Planning and Marriage. Planning a wedding can be exciting and exhausting. While making the many necessary decisions, you can easily overlook addressing your estate […]
Klenk Law
Posted on Wed Sep 19, 2012, on QDOT Trust
Any transfer of assets at death involves a variety of tax consequences, but estate planning for a married couple where one spouse is not a United States citizen involves unique taxation issues and planning. Couples who find themselves in this unique circumstance should consider the benefits of an estate plan that includes a Qualified Domestic Trust (QDOT).
In 2012, the federal estate tax provides a credit of $5,120,000, meaning that the first $5,120,000 of any estate not diminished by taxable lifetime gifts will pass free of the federal estate tax.¹ This exemption is scheduled to fall to $1,00,000.00 in 2013². Further, Section 2056 of the Internal Revenue Code contains the “marital deduction,” which provides that any property left to a surviving spouse following a decedent’s death is not taxed until the surviving spouse’s death. These provisions give married couples options for deferring estate tax payments until after the surviving spouse’s death.
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 explained a complex subject very clearly, helped us to decide the best approach to managing our estate and then made it very easy for us to execute the required documents. He will be a valuable resource for years to come and clearly has a great understanding of estate law that will lead to innovative solutions for us. I would unhesitatingly recommend him for estate planning.
Peter Klenk & Associates is my go-to firm for estate planning and advice in probate and estate administration. Peter and his attorneys are top-notch and exceptionally responsive. Peter has the knack of being able to explain extremely complex tax and estate planning issues in a manner that clients are easily able to understand and comprehend allowing them to confidently make important decisions.
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.
Peter provided outstanding advice and preparation of a will and trusts.
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.
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