Estate Planning for Graduating College Students

College Funding

The Law Offices of Donald J. Fournier provides estate planning services across Essex County, catering to individuals of all ages and circumstances. Our offerings encompass advanced trust creation, tax planning, wealth preservation strategies, and addressing long-term care and disability planning when required. Estate Planning in Beverly, Georgetown, Essex County MA for Graduating College Students. Schedule a Consultation. Law Offices of Donald J. Fournier. 100 Cummings Ctr., Suite 207-P Beverly, MA 01915 … Education/College Funding. Estate Planning.

529 plans are flexible, tax-advantaged accounts designed specifically for education savings. The Massachusetts 529 plan offers federal tax benefits and in-state tax deductions as you save for a child’s education. The funds may be used for a wide range of college expenses at accredited schools nationwide, or tuition expenses for K-12th grade, certain apprenticeship costs, and student loan repayments. 529 funds will also be treated as assets of the parent’s and therefore, assessed at 5.6% or less of the expected family contribution (EFC) by schools during the application process.