Passing things on to future generations is a common concern for many people interested in protecting their loved ones, but for a meaningful gift this holiday season, you might choose to establish an estate plan or contribute to a child’s 529 college savings account.
When you are thinking about the future of your loved ones, it’s always helpful to have an estate planning attorney at your side.
Doing so with the assistance of an experienced estate planning attorney can help you pass on a gift that helps your loved one in the future to pursue his or her educational dreams. Education is the cornerstone of planning ahead for minor children and your thoughtful care to put together an estate planning tool that protects your loved one’s right to pursue education without having to worry about the burden of costs, can have positive impacts for generations to come.
Education is often very important to numerous family members and the selection of a 529 College Savings Plan or other estate planning tools that can allow your loved one to pursue education without fear of the high costs is a very valuable gift and one that will be treasured for years to come. Furthermore, college savings plans may offer you numerous estate and gift tax benefits. Consulting with a lawyer can tell you more about how this can affect you.