Having an estate plan protects you and your family, but not all estate plans are equal. At Cameron Kelly Law, your estate plan will be designed with your needs in mind, tailor-made. Trusts, wills, powers of attorney, and health care directives, to meet your estate needs.
Planning. So many businesses react. It is easy to see why that happens, given the demands on individuals and business owners. Cameron Kelly Law helps you plan. Estate planning and business planning, designed to work for your life and your business.
Did you know that our firm is a member of WealthCounsel, a national organization committed to education and estate planning resources? If you have questions about your estate planning needs, real estate, of business, contact our attorneys on the Contact Attorney Page.
Get in Touch
Retirement funds held in an IRA or 401(k) are invested tax free, but distributions are taxed as income. Investors typically work with a financial advisor, who can help to make sure that a plan is in place for managing those taxes upon distribution.
What happens though when you pass away? Statistics indicate that the vast majority of IRA and 401(k) beneficiaries (as many as 85%) cash in the inherited funds within 6 months of the plan participant’s death. In most of these cases, little to no planning is done by the participant or the beneficiary to plan for the taxation of these funds. Beneficiaries not only pay taxes on these funds at high rates, they lose the benefit of the tax free growth that can come from an inherited IRA.
A solution to this problem is to leave retirement funds in a look-through trust, sometimes referred to as a Stand Alone Retirement Trust (“SRT”). While there is no hard and fast number for how much a client must have invested in order for an SRT to make sense, the potential benefits can be analyzed with investment software to project the benefit of receiving the tax free growth that comes with stretching IRA benefits over the beneficiary’s lifetime.
If you have retirement funds are interested in hearing more about the benefits of a SRT, please contact me to discuss by phone or at a free planning meeting.
In 2014, Cameron was certified by the Minnesota State Bar Association as a Real Property Specialist. Criteria for certification includes a certification exam, percentage of practice spent on real property issues, references from peers, and ethical standards.
Cameron has worked on real estate issues since he was admitted as an attorney in 2003, and continues to use his real estate knowledge for individuals and business clients
Very excited to be selected to the Super Lawyer, Rising Stars List for the second year in a row. The designation is limited to 2.5% of the attorneys in the State of Minnesota, who have shown excellence in the practice of law. The process starts with nominations by other attorneys, and then the attorney is examined based on the selection criteria. You can view my Super Lawyers profile here: http://shar.es/knz7I.
Cameron Kelly Law is happy to announce that Cameron Kelly has been selected by the Super Lawyers organization to the 2013 Minnesota RisingStars List. The designation is limited to 2.5% of the attorneys in the State, who have shown excellence in the practice of law.
Selection to the list starts with a nominations by other attorneys, followed by research of the candidates and peer reviews. Cameron Kelly's Super Lawyers profile can be found here, along with links to a description of the selection process. You can also find the announcement in Minnesota Super Lawyers Magazine, Mpls. St. Paul Magazine, and Twin Cities Business Magazine.
Many of our clients come to us for business matters, not realizing that our law firm routinely helps business owners with estate planning issues.
The estate planning issues confronting business owners are often different from the issues confronting non-business owners. Our attorneys understand business and business succession issues. We will take the time to sit down with you, identify your goals, and to implement a plan for your business. Whether you want to pass your business to the next generation of your familly, or create value in your business to prepare for an eventual sale, we will work with you and your familly to make it happen.Get in Touch