Expanded 529 plans offer unique estate planning benefits - Crawford Ellenbogen

529 plans are unique among estate planning vehicles. Ordinarily, to shield assets from estate taxes, you must permanently relinquish control over them. But contributions to a 529 plan are considered “completed gifts.” This means that the assets are removed from your taxable estate, together with all future earnings on those assets, even though you retain considerable control over the money. For example, unlike most other estate planning vehicles, you can control the timing of distributions, change beneficiaries, or cancel the plan and get your money back (subject to taxes and penalties). Contact us to learn more about how a 529 plan can help achieve your estate planning goals.