529 Plans
Explore how 529 plans can help secure educational futures, optimize tax benefits, and support legacy planning for the next generation.
How do 529 plans fit into an estate plan?
529 plans offer a strategic way to fund a beneficiary's future education while taking advantage of tax benefits, making them valuable in estate planning. Contributions to a 529 plan may qualify for annual gift tax exclusions. Additionally, these plans allow the account owner to maintain control over the assets, shifting their allocation as circumstances change. They are also considered a useful tool for reducing the taxable estate while continuing to invest in a loved one's education. 529 plans can be integrated into broader estate planning strategies, such as when establishing trusts, to provide for future education needs without burdening the estate itself.
