Four reasons to convert a custodial account to a 529 plan
There are several reasons why parents decide to liquidate a custodial account and use the assets to fund a 529 college savings plan.
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Clients need help with complex financial planning matters such as efficient wealth transfer, tax and inflation risk, and sustainable income in retirement. Financial-planning experts Bill Cass and Chris Hennessey weigh in each week with a range of insights, tips, and legislative updates.
Posts from category: College Savings
Tax reform enhances college savings plans
The Tax Cuts and Jobs Act resulted in the largest overhaul to the tax system in 30 years, including some key changes to 529 college savings plans.
Planning considerations for college-bound high school students and their parents
While college may seem a distant goal for a high school freshman, there are many things students and parents need to do during high school to prepare.
Understanding the paths to securing college financial aid
College financial aid plays a critical role for many families paying tuition and some colleges and universities require two types of aid applications.
Next steps when the first college bill is due
Many parents sending children to college for the first time may need help with financial advice and maximizing their 529 plan when the college bill is due.
Families with 529 college plans garner more savings
While more families choose a general savings account to save for college, those using 529 college plans are saving more, according to Sallie Mae.
Three ways that tax reform strengthens ABLE accounts
Recent tax reform resulted in changes that allow families to save more in ABLE Accounts for the care of a child with disabilities.
College planning strategies: Engaging children in saving can advance college goals
Build momentum for college saving before your child enters high school, by engaging children in good savings habits and monitoring your saving strategy.
College planning strategies: It’s never too early to start saving
Considering the many responsibilities competing for family savings, it’s never too early to consider college planning strategies.
Planning for college: High school seniors close in on the finish line
For families planning for college, the senior year of high school has many deadlines and preparations for parents and students.