College savings are a challenge for most families. Fortunately, Kentucky has its own 529 Plan, which is a college savings (and investment) plan. While many states allow out of state residents to invest in their plan, we’ll review the Kentucky plan and its benefits. Note: You may have heard of the Kentucky prepaid plan known as “KAPT,” but that was closed to new enrollees in 2004. That’s why the KAPT is not being discussed in this article. The Kentucky 529 Plan is called the “Kentucky … [Read more...]
Tax Efficient College Savings Plan
Many individuals have the desire to pave the way for their younger family members educationally. Setting aside resources for college can be done in various ways, and the best choice will vary on a case-by-case basis. The intelligent way to proceed is to sit down and discuss your unique situation with a northern Kentucky estate planning attorney who is apprised of all of the options that are available to you. When you do you will probably hear about 529 plans. These are savings plans that have … [Read more...]
4 Important Estate Planning Actions Parents of Young Children Need to Take Now
Sometimes parents of young children are very motivated to do their estate planning because they want to protect their children and make sure that they’re always provided for. And, sometimes, parents of young children are overwhelmed by life and have trouble getting around to doing their estate planning. No matter your life situation, there are 4 important estate planning actions parents of young children need to take. Name guardians in your wills Meet with a qualified estate planning … [Read more...]
