Wealth Insights is our regular financial planning update, generally refreshed on Tuesdays. Wealth Insights provides perspective on financial planning topics to help as you consider options for navigating your financial life.
When you contribute to a 529 plan, you’ll not only help your child, grandchild, or other loved one pay for school, but you’ll also remove money from your taxable estate. This will help you minimize your tax liability and preserve more of your estate for your loved ones after you die. So, if you’re thinking about contributing money to a 529 plan, it pays to understand the gift and estate tax rules.