529 Plans in Estate Planning After Tax Reform: Qualified Expenses, Education Trusts and Differing State Treatment
Recording of a 90-minute CLE/CPE webinar with Q&A
This CLE/CPE course will provide estate planning counsel with an updated guide to the estate planning opportunities found in §529 college savings plans in light of tax reform provisions which have expanded the scope of expenditures eligible under the plan. The panel will detail the specific changes to 529 plans under the new tax bill and offer guidance on structuring trusts and incorporating contributions to 529 plans in wealth transfer plans.
Outline
- Expanded provisions of §529 pPlans in tax reform bill
- Variations in state treatment of 529 expenditures
- Structuring education trusts
- Incorporating 529 plans with education trusts
- Tax implications and benefits
Benefits
The panel will review these and other key issues:
- Qualified expenses that §529 plans may pay under the new provisions of the tax law
- State law differences in defining qualified expenses which impact tax treatment of 529 plans for expenses other than college or post-secondary expenses
- Tax benefits of stand-alone education trusts offer in an estate plan
- Advantages of combining education trusts with 529 college plans in the overall estate plan
Faculty
Michael T. Clear
Partner, Chair Private Client Services Department
Wiggin and Dana
Mr. Clear regularly counsels clients on the far-reaching financial implications of estate planning, estate and trust... | Read More
Mr. Clear regularly counsels clients on the far-reaching financial implications of estate planning, estate and trust administration, probate litigation, and business succession planning. His estate planning practice includes assisting individuals and families in tax-efficient and practical estate and gift planning, including the preparation of wills, revocable living trusts, insurance trusts, and entities to own special family assets such as vacation homes and collections. Mr. Clear’s estate and trust administration practice often dovetails with his probate litigation experience, where he advises clients in will and trust construction cases, contested accountings, fiduciary removal proceedings, payment of unpaid claims, and conservatorship and guardianship matters. Mr. Clear also assists business owners with succession planning by presenting to family groups on business/estate planning matters and by preparing business entities, shareholders’ agreements, buy-sell agreements, and grantor-retained annuity trusts. He often facilitates the sale or purchase of business assets.
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Erin D. Nicholls
Atty
Wiggin and Dana
Ms. Nicholls focuses her practice on estate planning, philanthropy, trusts and estate administration services.
| Read MoreMs. Nicholls focuses her practice on estate planning, philanthropy, trusts and estate administration services.
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