College planning services with your child’s future in mind
Investing in Your Child’s Future Education
Funding your child’s future education is a concern for many parents. The advisors at Gagne Wealth Management Group have decades of experience advising parents just like you on the best avenues available to help ensure a strong foundation for their children’s future education.
We’ll start by meeting with you to understand your goals and current financial situation, and then design a plan to help fund your child’s college education. Some of the options we offer include:
529 Plans
529 college savings plans are tax-advantaged college savings vehicles and one of the most popular ways to save for college today. Although 529 college savings plans were created by federal law, their implementation is left to each individual state. Currently, there are over 50 different college savings plans because many states offer more than one plan.
Coverdell Accounts
A Coverdell education savings account is a tax-advantaged educational savings account that you can establish for any child under the age of 18 (this age limit does not apply to beneficiaries with special needs).
Uniform Trust to Minors Account (UTMA) and Uniform Gifts to Minors Act (UGMA)
The Uniform Transfers to Minors Act (UTMA) is a law enacted by most states authorizing parents or other designated adults to manage investments for the benefit of a minor child. The Uniform Gifts to Minors Act (UGMA) is an older version of the UTMA. UTMA and UGMA are essentially the same, except that UGMA does not authorize specific types of property.
In addition to helping with your education funding choices, we can also assist you with the selection of life insurance options and other financial planning needs.
Contact us now to discuss your child’s college planning needs. Simply visit our Get In Touch page or call us toll-free at 866.461.7673.
