Education Funding Strategies in Estate Planning 2024
This program is an excerpt from the 44th Annual Estate Planning Update.
The old college try
The cost of higher education has been rising for decades, and the average cost to attend a four-year university has roughly doubled in the past 30 years.1 It’s no surprise that the majority of Americans now believe that tuition is the number one barrier to attending college.2 Given the significant costs of higher education, how can you help clients provide education funding for their children, grandchildren, or other young people in their lives to ensure their loved ones can afford to attend?
College funding 101
Explore ways to help your clients save, plan, and finance higher education costs at Education Funding Strategies in Estate Planning. You’ll start with the data on college affordability and a look at available financial aid options. Then, delve into different methods of funding and the pros and cons of each, including:
- Direct payment of tuition
- 529 education savings plans
- Prepaid tuition plans
- Education savings plans
- Educational savings accounts
This program is an excerpt from the 44th Annual Estate Planning Update.
The old college try
The cost of higher education has been rising for decades, and the average cost to attend a four-year university has roughly doubled in the past 30 years.1 It’s no surprise that the majority of Americans now believe that tuition is the number one barrier to attending college.2 Given the significant costs of higher education, how can you help clients provide education funding for their children, grandchildren, or other young people in their lives to ensure their loved ones can afford to attend?
College funding 101
Explore ways to help your clients save, plan, and finance higher education costs at Education Funding Strategies in Estate Planning. You’ll start with the data on college affordability and a look at available financial aid options. Then, delve into different methods of funding and the pros and cons of each, including:
- Direct payment of tuition
- 529 education savings plans
- Prepaid tuition plans
- Education savings plans
- Educational savings accounts
Assess gift tax options like the Uniform Transfers to Minors Act, annual gift tax exclusions, lifetime gift tax, and generation-skipping transfer tax exemptions. Plus, examine the use of education trusts, which can offer tax-efficient, flexible funding opportunities.
Give your clients the best advice on helping their loved ones make their college dreams a reality with guidance from Education Funding Strategies in Estate Planning.
1Here's the Top Reason People Choose Not to Go to College
2Survey: Americans See Cost as the Biggest Barrier to Higher Education
Product details
- Get a bird’s-eye view of the higher education funding landscape
- Identify pros and cons of various college funding strategies
- Review gift tax considerations in the context of funding higher education
- Explore SECURE Act 2.0 and 529 plan strategies for funding education trusts
- Estate planning lawyers
- Taxation lawyers
- Anyone seeking strategies to pay for higher education