Full Description

“Clearly, this is the definitive guide to 529 plans. It is a must read for anyone who needs a detailed understanding of the most important financial vehicle since the advent of the 401(k).”
—William L. Koleszar, Chief Strategy Officer, BabyMint, Inc.

“A user-friendly guide to this new and powerful financial instrument...an important addition to college admissions literature.”
—Edward B. Fiske, author of The Fiske Guide to Colleges


Whether you want to save for your children, grandchildren, spouse, friend or yourself, The 529 College Savings Plan is the way to go. This book guides you through the savings process, cuts through the legal and financial language and gets you focused on college savings. Learn how the 529 Plan differs from other savings programs and how it will work for you.

The 529 College Savings Plan shows in a step-by-step format how to use this new government benefit. The book:
--Demonstrates how everyone can save for college—tax free
---Compares the 529 Plan to other savings plans such as Coverdell, Crummey and
Prepaid Tuition Credit alternatives
--Answers “Frequently Asked Questions” about the 529 Plan
--Specifies the kinds of institutions that are eligible for the 529 Plan
--Explains such details as qualified higher education expenses
--Clarifies beneficiary issues
--Identifies Plan Managers
--Explains the 529 Plan requirements for all participating states

Table of Contents

Introduction
-
Frequently Asked Questions -

Chapter 1: The Basics of 529 Plans -
-Internal Revenue Code Section 529
-What the College Savings Account Really Is
-Establishing a College Savings Account
-Rules, Rules, Rules
-Future Changes in the Law
-Chapter 1—At a Glance

Chapter 2: Helping to Save for College -
-Taxes and Tax Deferred Savings
-College Savings Accounts Versus other
-Methods of Saving for College
-College Savings Plan/Section 529 Advantage
-Coordination of Hope Scholarship Credit with
-Section 529 College Savings Plans
-Chapter 2—At a Glance

Chapter 3: Taxation of College Savings Plans -
-Basic Tax Rules
-Qualified Higher Education Expenses
-Eligible Institution
-Taxes on Distributions
-Deductions for Contributions—Federal
-Deductions for Contributions—State
-State Taxation on Withdrawals from a
-College Savings Plan
-Chapter 3—At a Glance

Chapter 4: Beneficiary Planning -
-The Basics
-Changing the Beneficiary
-Making Changes to an Existing College Savings Plan
-Chapter 4—At a Glance

Chapter 5: Ownership and Maintenance -
-Lifetime Issues
-Transfer at Death
-Trusts as Owners
-Investment Options
-Fees and Expenses
-Chapter 5—At a Glance

Chapter 6: The Role of the Advisor -
-Issues for the Advisor
-Role of the Advisor in Corporate-Sponsored Plans
-Chapter 6—At a Glance

Chapter 7: Estate Planning and the College Savings Plan -
-Federal Estate Planning Basics
-College Savings Plans—Estate Planning Rules
-Creative Estate Planning
-The Double Dip Opportunity
-The Unintended Gift Tax Consequence
-Ownership Issues and Estate Planning
-Post Death Trust Issues
-Death of a College Savings Plan Beneficiary
-Strange Possibilities
-Chapter 7—At a Glance

Chapter 8: The New Employee Benefit -
-Understanding Employee Benefit Plans
-Expanding Benefit Plans
-Adding 529 Plans to the Package
-Determining if Your Employer Offers a 529 Plan
-A Word of Caution
-Chapter 8—At a Glance

Chapter 9: Scholarship Programs and the 529 Plan -
-Traditional Charities and College Savings Plans
-Establishing the Scholarship Program
-Universities and Colleges—Compensation Planning
-Corporate-Sponsored College Savings Accounts—
-Compensation Planning
-Chapter 9—At a Glance

Chapter 10: The Future of 529 Plans -
-Rebate Programs
-Affinity Programs
-Chapter 10—At a Glance

Glossary -

Appendix A: Internal Revenue Code Section 529 -

Appendix B: State by State Summary of Plans and Plan Managers -

Appendix C: State Program Internet Links -

Index -

About the Authors

Excerpt

Editorial Reviews

Customer Reviews

Customer Reviews: