Education Planning
The education of children and/or grandchildren is often a very important goal for our clients. Especially for young families, the rising cost of education makes paying for this a challenge.
With education planning, we conduct an analysis to project the expected costs of education from primary school through higher education. Within the context of your financial plan and circumstances, we help you develop a strategy to effectively prepare for these costs. Finally, we help you select the most effective savings vehicle which may include a 529 college savings plan, a trust for your child, or a Uniform Transfer to Minors Act (UTMA) account.
The State of Arizona also provides an annual Arizona state income tax deduction for 529 plan contributions of up to $2,000 for individual tax filers, and up to $4,000 for married couples filing jointly.
Gift Tax and Estate Tax Benefits
The 529 plan are partially exempt from gift tax. You can contribute up to $15,000( $30,000 for married couples) annually per beneficiary, or up to $75,000 ($150,000 for married couples ) over a five- year period, without triggering the gift tax.
Gifts are excluded from your estate, so investing in a 529 Plan can be a smart strategy to reduce your estate tax.
With education planning, we conduct an analysis to project the expected costs of education from primary school through higher education. Within the context of your financial plan and circumstances, we help you develop a strategy to effectively prepare for these costs. Finally, we help you select the most effective savings vehicle which may include a 529 college savings plan, a trust for your child, or a Uniform Transfer to Minors Act (UTMA) account.
The State of Arizona also provides an annual Arizona state income tax deduction for 529 plan contributions of up to $2,000 for individual tax filers, and up to $4,000 for married couples filing jointly.
Gift Tax and Estate Tax Benefits
The 529 plan are partially exempt from gift tax. You can contribute up to $15,000( $30,000 for married couples) annually per beneficiary, or up to $75,000 ($150,000 for married couples ) over a five- year period, without triggering the gift tax.
Gifts are excluded from your estate, so investing in a 529 Plan can be a smart strategy to reduce your estate tax.
Take The First Step - Schedule Your Complimentary Initial Consultation Today!
|
Free Initial Consultation
Serving individuals, families and businesses in Phoenix, Houston, and nationwide. Meet with Chase Floyd, an investment advisor in the way that works best for you. We will review your financial situation and build a plan to help you pursue your financial goals. Investment advisory services offered through The Investment Chase LLC., a registered investment advisor DISCLOSURES |
|