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With tax-benefits, 529 plans may be a smart way to give your children the gift of education. An irrevocable trust may be an even better alternative if you're concerned about estate taxes. Irrevocable trusts offer more investment and distribution flexibility than 529 plans.
30 Νοε 2022 · Trust Owned 529 Accounts: The IRS expanded the definition of a 529 plan owner to include a trust as a person under the statute. Accordingly, an irrevocable trust can open a 529 account or it can be named as a successor owner of the 529 plan account.
2 Ιουν 2023 · In a recent article in Trusts & Estates, Gail Cohen, Estate Planning lecturer and Chair of Fiduciary Trust’s Board of Directors and General Trust Counsel, explains the key provisions that a trust agreement should contain to assure that the trustee has the power to make appropriate decisions.
22 Αυγ 2017 · Trust assets may be invested in a wide array of investments, instead of the limited options of a 529 plan. Trust documents can provide flexibility that allows trustees not only to distribute...
22 Νοε 2024 · A 529 plan is a tax-advantaged account that can be used to pay for qualified education expenses, including college, K–12, and apprenticeship programs.
6 Μαρ 2024 · 529 plans are savings plans for colleges, vocational, and religious schools that also provide tax advantages. Money invested in a 529 plan grows in a tax-deferred manner. Withdrawals from 529 plans for qualified education expenses are not taxed.
20 Απρ 2023 · If a trust owns a 529 plan, donors can maximize their annual exclusion gifts without the need to provide Crummey powers and continue to decide how the 529 plan can benefit the current and...
