Using 529 Plans for Estate Planning

A 529 plan is part of the tax code that allows you to save money on a tax-deferred basis for a child’s or grandchild’s college or private K-12 education. If used for qualified education expenses, the earnings are tax-exempt. But what many people may not realize is that a 529 plan can also be a helpful estate planning tool, so it is often overlooked and underutilized for this purpose. 

Topics Discussed:

• The specifics of what a 529 plan is

• How a 529 plan fits into estate planning

• Why someone may consider using a 529 for estate planning

• Reasons not to use a 529 for estate planning