529 Plan

Learn about 529 education savings plans and their role in estate planning. Discover tax benefits, contribution limits, and how these plans help families save...

What are the tax benefits of a 529 education savings plan?

529 plans offer significant tax advantages including tax-free growth of investments and tax-free withdrawals when funds are used for qualified education expenses. Many states also provide tax deductions or credits for contributions to their 529 plans. Additionally, contributions can help reduce your taxable estate since they're considered completed gifts for tax purposes.

Financial Planning

Education Trust vs. 529 Plan: Key Differences

Education trusts offer flexibility and control for educational expenses, while 529 plans provide tax advantages and simplicity for traditional college costs.

SimplyTrust EditorialFebruary 18, 2025