ABOUT THIS EPISODE
President and Senior Financial Planner Paul L. Moffat and Director of Financial Planning Jordan Naffa take a closer look at 529 plans and how these tax-advantaged accounts can help families prepare for education expenses while creating opportunities for long-term, multigenerational planning.
Paul and Jordan explain how 529 plans work, the tax advantages they offer, and an often-overlooked feature: lifetime contribution limits. Because maximum account limits are set at the state level and vary significantly, understanding these limits can be an important part of a family's education and estate-planning strategy.
The conversation also explores the expanding flexibility of 529 plans, including qualified education expenses, K-12 tuition, graduate and specialized education programs, and opportunities for unused funds. Paul and Jordan discuss how changing beneficiaries may allow assets to benefit future generations, transforming a traditional college savings account into what they describe as a potential "college legacy plan."
In this episode:
● How 529 plans work and their potential tax advantages
● Understanding state lifetime contribution limits
● Why families are not necessarily limited to their home state's plan
● Qualified expenses beyond traditional college tuition
● Using 529 funds for K-12 and other eligible education programs
● Planning opportunities for unused 529 funds
● Changing beneficiaries to support future generations
● How 529 plans can become part of a broader family legacy strategy
The opinions expressed in this podcast are for general purposes only and are not intended to provide specific advice or recommendations for any individual or on any specific security. It is only intended to provide education about the financial industry. It is not intended to provide tax or legal advice. To determine which investments may be appropriate for you, consult your financial advisor prior to investing. Any past performance discussed in this program is not a guarantee of future results. Any indices referenced for comparison are unmanaged and cannot be invested in directly. As always, please remember that investing involves risk and the possible loss of principal. Please seek advice from a licensed professional.
Arista Wealth Management is a registered investment adviser. Advisory services are only offered to clients or prospective clients where our firm and its representatives are properly licensed or exempt from licensure. No advice may be rendered by Arista Wealth Management unless a client service agreement is in place.
🌟Get in touch with us by clicking the links below!🌟
Go to Aristawealth.com for other tools, tips, and resources.
Website: https://www.aristawealth.com/
Facebook: https://www.facebook.com/AristaWealth/
LinkedIn: https://www.linkedin.com/company/arista-wealth-management/
