Note: This course was previously titled Education Planning Solutions for Minors.
Explains the requirements, advantages, disadvantages, and tax implications of 529 plans and Coverdell accounts. Describes the benefits and drawbacks, including the tax implications, of custodial accounts. Describes the fundamentals of 2503(c) trusts. Explains the requirements for using savings bonds for education planning. Discusses Crummey trusts, including the advantages, disadvantages, and the tax implications of the trusts.
What You'll Learn
After completing this course, students will be able to:
Discuss the use of qualified state tuition plans
Explain how a Coverdell Education Savings Account is used for college savings
Explore the role of custodial accounts
Describe the use of 2503(c) trusts
Examine how savings bonds are used for education planning
Recognize how Crummey trusts are used in estate planning
Trust officers with at least three years of personal trust experience who need a deeper understanding of technical trust concepts and how solutions work when applied to client needs.