The 529 College Savings Plan

Front Cover
SphinxLegal, 2003 - College costs - 230 pages
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"Clearly, this is the definitive guide to 529 plans. It is a must read for anyone who needs a detailed understanding of the most important financial vehicle since the advent of the 401(k)."
-William L. Koleszar, Chief Strategy Officer, BabyMint, Inc.
"A user-friendly guide to this new and powerful financial instrument...an important addition to college admissions literature."
-Edward B. Fiske, author of The Fiske Guide to Colleges

Whether you want to save for your children, grandchildren, spouse, friend or yourself, The 529 College Savings Plan is the way to go. This book guides you through the savings process, cuts through the legal and financial language and gets you focused on college savings. Learn how the 529 Plan differs from other savings programs and how it will work for you.
The 529 College Savings Plan shows in a step-by-step format how to use this new government benefit. The book:
--Demonstrates how everyone can save for college-tax free
---Compares the 529 Plan to other savings plans such as Coverdell, Crummey and
Prepaid Tuition Credit alternatives
---Answers "Frequently Asked Questions" about the 529 Plan
---Specifies the kinds of institutions that are eligible for the 529 Plan
---Explains such details as qualified higher education expenses
--Clarifies beneficiary issues
---Identifies Plan Managers
--Explains the 529 Plan requirements for all participating states

 

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Contents

The Basics of 529 Plans
1
Helping to Save for College
15
Taxation of College Savings Plans
35
Beneficiary Planning
49
Ownership and Maintenance
59
The Roles of the Advisor
65
Estate Planning and the College Savings Plan
71
The New Employee Benefit
83
The Future of 529 Plans
99
Glossary
103
Internal Revenue Code Section 529
111
State by State Summary of Plans and Plan Managers
119
State Program Internet Links
215
Index
225
About the Authors
231
Back Cover
233

Scholarship Programs and the 529 Plan
91

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About the author (2003)

Richard A. Feigenbaum is founder of College Savings Consultants, Inc. a Wellesley, Massachusetts based consulting firm focused on Section 529 College Savings Plans (www.529consulting.com) and technology solutions for the 529 industry. Richard Feigenbaum is also a practicing, estate planning attorney. Mr. Feigenbaum received his law degree, as well as a graduate law degree in Taxation, from Boston University School of Law. He has authored a book on probate law, published by Sphinx/Sourcebooks and has taught probate law for the Northeastern University Financial Planning Institute and the Professional Paralegal Program. Mr. Feigenbaum has co-authored "Estate Administration for the Paralegal," published by Massachusetts Continuing Legal Education, Inc. Attorney Feigenbaum is a member of the Boston Estate Planning Council, is listed in "Who's Who in Executives and Professionals," and is a frequent lecturer on estate planning topics for charities and financial services organizations. David J. Morton is a Managing Director of Wachovia Securities in Boston, Massachusetts, and is involved in the management of assets for individuals and corporations and in capital raising activities for businesses. He is a Registered Investment Advisor and is the co-recipient of the 2001 New England Benefits Council Award for his work in bringing the College Savings 529 Plan to industry. Mr. Morton is a graduate cum laude from Bowdoin College and resides with his family in Dover, Massachusetts. Richard A. Feigenbaum is founder of College Savings Consultants, Inc. a Wellesley, Massachusetts based consulting firm focused on Section 529 College Savings Plans (www.529consulting.com) and technology solutions for the 529 industry. Richard Feigenbaum is also a practicing, estate planning attorney. Mr. Feigenbaum received his law degree, as well as a graduate law degree in Taxation, from Boston University School of Law. He has authored a book on probate law and has taught probate law for the Northeastern University Financial Planning Institute and the Professional Paralegal Program. Mr. Feigenbaum has co-authored "Estate Administration for the Paralegal," published by Massachusetts Continuing Legal Education, Inc. Attorney Feigenbaum is a member of the Boston Estate Planning Council, is listed in "Who's Who in Executives and Professionals," and is a frequent lecturer on estate planning topics for charities and financial services organizations. David J. Morton is a Managing Director of Wachovia Securities in Boston, Massachusetts, and is involved in the management of assets for individuals and corporations and in capital raising activities for businesses. He is a Registered Investment Advisor and is the co-recipient of the 2001 New England Benefits Council Award for his work in bringing the College Savings 529 Plan to industry. Mr. Morton is a graduate cum laude from Bowdoin College and resides with his family inDover, Massachusetts.

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