In previous newsletters, we have discussed both so-called “529 accounts”, which are a type of tax-efficient education savings accounts and ABLE accounts, which are a relatively new type of account that can be established to provide additional resources for persons receiving Supplemental Security Income (SSI) benefits. While each account is for a different purpose, they do share some similar features. Due to a recent law change, it is now possible to make limited transfers from existing 529 … [Read more...] about Interaction between Education Savings (“529”) Accounts and ABLE Accounts
Would you be interested in a way to save money for education and get tax benefits simultaneously? A 529 plan might be what you’re seeking. Find out more by reading the benefits of a 529 plan in this article by my friend and colleague Steve Hartnett, an estate planning expert. What’s a 529 Plan and What Are the Benefits to Using One? … [Read more...] about What’s a 529 Plan and What Are the Benefits to Using One?