Wealth Preservation, Trusts and Estates

Many  clients ask us about how to plan and to save for college as part of their estate planning, asset protection planning, and tax planning. In our Enhanced Estate Planning Process (TM), we focus on the many ways that families can protect assets for the things that are important. And, lifestyle, family values, and educating the next generation rank high on the list. And, when you plan properly, you can protect assets from your creditors and for your children and grandchildren. You can also get these assets out of your estate for tax purposes, and you can make sure that they get used for educational purposes and not for unrelated reasons.

Because the economy has robbed many people of the assets that they were going to use, many grandparents are also looking for ways to help children and grandchildren with these extraordinary expenses.

Obviously, the sooner you plan the better. But, it is never too late.

There are several types of 529 plans, UTMA accounts, individual trusts, and other tools including outright gifts that can be used. However, a comprehensive plan should be thought out before you start with the trouble and expense of any particular technique. And, there are many pros and cons to 529 plans. Finally, you need to understand how these plans invest and work.

I recently discovered a great resource to use in calculating and planning for college. Many site are set up to sell consumers a product or service. This site is just jammed with resources, calculators, and information. Just click here to visit the FINRA college resource center.

We also post articles on these and related topics at Pennsylvania Estate Planning.

I also wanted to remind you of a new service that we are offering for our clients and prospective clients.
If you would like our regular “HOT TIP” that you can use each week to save tax dollars, avoid probate, make your will actually work (most do not), or protect your assets, then follow David M Frees III, Esq on Twitter. Just click here.

Thank you for your comments and questions below.

David M. Frees III Esquire

Call 610-933-8069 for more information, an
appointment, or to receive our free report
The Ten Most Common Mistakes Executors Make and How To Avoid Them.

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Written by: David M. Frees III

Chairman: Trust, Estates, and Wealth Preservation
E-mail: dfrees@utbf.com
Phone: 610-933-8069
AVVO Rating: 10.0

David M. Frees

online at

visit superlawyers.com

David M. Frees III limits his personal practice within the firm to trusts, estates, probate, asset protection, and business succession planning. Mr. Frees is also an author and internationally known speaker.

Tags: 529 plans, college savings, David M. Frees III, gifting for college, paying for college, planning for college

This entry was posted on Sunday, February 15th, 2009 at 6:56 pm and is filed under Asset Protection, Estate Planning, Estate Tax Planning, college savings. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.