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Estate planning benefits of 529 plans
529 plans offer a variety of benefits that invest in educational goals. As college affordability has continued to be a challenge, this has led to an increase in student loan debt. When looking for a way to help your clients pay for higher education, a 529 plan – like Scholars Choice – offers unique estate tax planning benefits.
529 plan is…
- A tax-advantaged education-savings account
- Named after a section of the Internal Revenue Code
- Similar to a Roth IRA account, but for used for education instead of retirement
- Designed to cover the cost of tuition and related qualified education expenses
Scholars Choice Education Savings Plan also offers unique estate planning benefits that include reducing current and future tax liability, passing on wealth to children, grandchildren and future generations, and full control of assets despite assets being separate from your clients’ estate.
Learn more about Scholars Choice today!
There are various risks associated with an investment in the Scholars Choice Education Savings Plan; principal loss is possible. The Scholars Choice Education Savings Plan’s Investment Portfolios are subject to the risks of the underlying fund(s) in which they invest and other risks, as described in the Plan Description. To obtain a more complete description of the investment policies and risks of the underlying funds, please refer to the current prospectuses for the underlying funds.
The Target Allocation Portfolios are currently comprised of four Investment Portfolios. The Target Allocation Portfolios are designed for account owners who prefer a diversified Investment Portfolio with a fixed risk level rather than a risk level that changes as the Designated Beneficiary ages.
The Enrollment Year Investment Portfolios are intended for Account Owners who prefer an Investment Portfolio with a risk level that becomes increasingly conservative over time as the Designated Beneficiary approaches expected enrollment in an Eligible Educational Institution and/or expected year in which amounts will be withdrawn to pay for Qualified Higher Education Expenses. There are ten target Enrollment Year Investment Portfolios that invest in multiple underlying funds, each of which has a different investment strategy.
Before investing, carefully consider the investment objectives, risks, charges and expenses of the Scholars Choice Education Savings Plan, including whether the investor’s or designated beneficiary’s home state offers any state tax or other benefits that are only available for investment in such state’s qualified tuition program. For this and other information that should be read carefully, please read the Plan Description or request one at 888-5-SCHOLAR (888-572-4652).
Participation in the Scholars Choice Education Savings Plan does not guarantee that the account’s assets will be adequate to cover future tuition or other higher education expenses, or that a designated beneficiary will be admitted to or permitted to continue to attend an institution of higher education. Contributions to an Account and the investment earnings if any, are not guaranteed or insured.