Adding your child to your bank account might seem like a simple way to ensure they can help manage your finances—but it could create more problems than it solves. From unintended disinheritance and gift tax issues to exposing your assets to your child’s creditors, joint accounts come with hidden risks. In this video, Beau Ruff explains why a power of attorney is often a safer, smarter alternative for granting access without giving up ownership.
If you're married and living in Washington state, your estate plan might be missing a powerful yet simple tool: the Community Property Agreement. Despite Washington being a community property state, assets don’t automatically transfer to a surviving spouse upon death. This one-page document can streamline your estate plan, ensuring your wishes are honored and your spouse is protected. Learn how it works, when it’s right for you, and why it might be the most cost-effective estate planning move you can make.
In the world of asset protection, one well-known concept to mitigate risk is to transfer the obligation for payment of a valid claim to another person. This risk mitigation is…
Diversity comes in many forms and many related ways of accommodating different needs. When parents are planning for the needs of children with disabilities, a product that should be considered…
In 2019, The SECURE Act changed the rules concerning the distributions from pre-tax Individual Retirement Accounts (IRAs) inherited through beneficiary designation (a so-called “Beneficiary IRA”). As with many such changes…
Couples are often wary to bring up the dreaded P word when discussing their nuptials. After all, who wants to ostensibly discuss a divorce when there is an impending marriage…
Periodically checking and updating beneficiary designations on retirement accounts and life insurance is prudent. The next time you navigate the online portal or the old school paper form to write…
As Benjamin Franklin once said, “In this world nothing can be said to be certain, except death and taxes.” Taxes come in a wide variety of flavors (e.g., income taxes,…
Some readers have heard of personal asset protection strategies like trusts or limited liability companies. The draw to products like these is the supposed promise that your personal assets can…
Parents that have built a successful business and have raised capable children might find the proposition of selling the family business to the children compelling. As with so many decisions…
Securities and advisory services offered through LPL Financial, a registered investment advisor. Member FINRA/SIPC.
Cornerstone Wealth Strategies is not registered as a broker-dealer or investment advisor.
* Beau Ruff, J.D., LL.M in Taxation, is a licensed, not practicing, lawyer
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Cameron has been in the finance industry since 2008 and an advisor since 2012, and is dedicated to working with individuals, families, and small business owners to help them pursue financial freedom through individualized financial planning. As a trader, he supports the team with investment analysis, portfolio construction, and the processing of trades and money transactions for our clients. Cameron also enjoys connecting with our Spanish-speaking clients, ensuring they receive the same high level of service.
Education: Cameron earned his Bachelor of Science in Economics from the University of Utah in 2008 and worked in the banking field until he became a licensed financial advisor in 2012.
Interests: Cameron was born and raised in the Tri-Cities. He is married to Jamie, and they have four wonderful children, Evelyn, Cassidy, Caleb, and Clara. Cameron is an active member in his community and his church. He enjoys being outdoors as much as possible with his kids, whether he is skiing, mountain biking, taking pictures with his drone, or motorcycle camping.
