529 Plans: What Every Planner Needs to Know

While much of the transfer of wealth comes in the form of inheritance, today inter vivos expenditures for a good education may be even more important than intergenerational transfers at death. This accessible resource focuses on Section 529 plans, comparing and contrasting them with other education planning techniques. The authors identify the need to develop strategies for financing K-12, college, graduate, or professional education, detail the rules by which these goals may be accomplished, and explain how to integrate education planning into an individual’s comprehensive paradigm for financial, tax, retirement, and estate planning. Although the book’s primary focus is on 529 plans, this accessible resource also provides a thorough introduction to the other education savings vehicles that are available. In addition, the book addresses strategies for financing education when savings prove inadequate, including guidance on financial aid planning. Throughout the text, Planning Pointers address some of the critical planning issues that arise in the education planning context. Invaluable appendices contain various materials–glossary, acronyms, abbreviations, statutes, forms, and other resources–to assist the planner.A roadmap for creating effective strategies for education financing, this guide’s clear information and practice tips make this a useful and accessible resource for a broad audience, including estate planners, general practitioners, tax lawyers, accountants, financial planners, trust officers, and financial aid administrators.