If you are considering transferring wealth to your children or grandchildren, a trust is usually the best method. It is almost always the best way to protect an inheritance from potential depletion due to lack of financial acumen, … [Read more...]
529s and ABLE Accounts Get a Major Boost
Age of disability for ABLE accounts will increase from 26 to 46. Unused 529 accounts can be rolled into a Roth IRA. Q. I have two children. One is an adult child with an autism spectrum disorder (ASD), and another is a lot … [Read more...]
Grandparents and Others can Contribute More to 529 Plans without Affecting College Financial Aid
Q. My son, Bryan, is entering middle school. His grandfather (my dad) is coming for a barbecue for Father’s Day this weekend, and we are also celebrating Bryan’s birthday. My dad has been contributing to a 529 plan to help pay for … [Read more...]