A prepaid tuition plan is attractive to a family that just wants to make sure they've paid for the future tuition at a public university and they don't want to worry about which direction the markets are going. |
From a risk standpoint the Independent 529 is certainly a different creature, |
I recommend that 529 account owners take care to withdraw 529 funds in the same calendar year as the payment of college expenses. Otherwise the taxpayer assumes the risk of IRS challenge by trying to tie this year's withdrawals to prior-year or future-year payments of qualifying expenses. |
It can be complicated, but if you want to get the benefits, you have to deal with all the details. I encourage a combination of options when that makes sense. It doesn't have to be one of the other. |
More and more people are taking advantage of these plans. They seem to be growing quite rapidly in popularity, mainly because people are just now finding out about them. You still find a lot of people who just don't know much about them. |
That has become a significant issue to worry about in many families, since that custodian account is owned by the child, |
The individual with a college savings plan is someone who might otherwise be investing in taxable funds for their child's college education and they'd like to be able to put that money in a tax-advantaged savings account. |
The market is going to catch on once people realize the value of these tax advantaged programs, |
These are drastic changes ... that raise the bar for filing for bankruptcy. |
They don't have the money to pay an attorney. |
They were really the model for the savings plans we see today. |
This is a remarkable development for families with children, |
This should be a big help for a lot of families. |
You don't have two 18-year-old kids go into a hotel and have a baby without medical training and say he's innocent. He did something wrong, but we're not sure what he did wrong. |