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Saving enough money for college may be one of the greatest financial challenges you will ever face. Ever changing government policies on education savings complicate the task.
Our Approach to Education Planning
- We help you establish an education saving goal tailored to your specific needs.
- We’ll forecast education costs and the impact on your financial plan.
- We help you understand the options available to you such as 529 college savings plans, UGMA (Uniform Gifts to Minors Act) and UTMA (or Uniform Transfers to Minors Act) custodial accounts, and Coverdell Education Savings Accounts.
- We’ll explain how tuition gifting can help reduce potential estate taxes without incurring gift taxes or reducing your lifetime gift tax exclusion*
Key Parts of Financial Planning
- Establish Goals & Objectives – We work with you to define and prioritize your financial goals.
- Retirement Planning – We design and implement the plan that helps you achieve your ideal retirement.
- Asset Management – We create and manage a customized portfolio for your unique goals and objectives.
- Education Planning – We advise you on college savings, gifting, and other aspects of a successful education savings plan.
*Resonance Financial does not offer legal or tax advice. Please consult the appropriate professional regarding your individual circumstance.