Rolfe and Callahan Save Client Over $800,000
A new client recently came to Kemp Klein with the intention of updating their estate plan following the passing of a spouse. However, in the process of reviewing the client’s trust accounts, attorneys Brian Rolfe and Casey Callahan discovered a technical error in the retirement account beneficiary designations made by a previous financial advisor.
The error would have required the client to cash out retirement accounts 14 years earlier than planned, which would have cost $165,000 in otherwise avoidable taxes as well as three more years of tax-deferred growth. Through detailed research and effective negotiations, Rolfe and Callahan were able to reverse the previous advisor’s error and save the client over $800,000.