When weighing how best to incorporate charitable giving into your estate plan, it can make sense to lean on pre-tax retirement accounts such as a 401(k) or traditional individual retirement account.
As higher education costs continue to rise, it’s important to consider how best to fund your child’s or grandchild’s education. I propose a multipronged approach to use tax-advantaged 529 plans, trusts, and term-life insurance.
Many of us choose to put a child’s name on the account. And we choose the most responsible child to handle that duty. This plan is fraught with potential problems, but the good news is that a better solution exists.