College Funding

The benefits of the 529 College Savings Plan are listed below:

• Tax Deferred Growth
• Qualified distributions are free from federal income taxes
• Contributions are revocable
• Individuals can gift up to 60k (120k per married couple) pre beneficiary in a single year without incurring gift tax (call for additional information)
• Contributions to a 529 plan are generally considered removed from the owner ’s estate
• Parent (or Owner) controls the account; child is beneficiary
• There are no income or age limits on the donor or beneficiary
• Beneficiary can be changed at any time, provided the new beneficiary is a member of the designated beneficiary ’s family.