Family education trusts – Leave a lasting legacy for your heirs
Abstract: Providing for the educational needs of children, grandchildren and even future generations is an honorable estate planning objective. To achieve this goal a person can use a 529 plan, but after death, there’s no guarantee that subsequent plan owners will continue to use it to fulfill the original vision. An alternative strategy is to create a family education trust that invests in one or more 529 plans. This article explores a 529 plan’s flexibility and explains the benefits of having a family education trust hold a 529 plan.