Grandparent 529 Plans Get a Boost Under FAFSA Rules
529 plans are a favored way to save
for college due to the tax benefits
and other advantages they offer when funds are used to pay a beneficiary’s qualified college expenses. Up until now, the FAFSA (Free Application for Federal Student Aid) treated grandparent-owned 529 plans more harshly than parent-owned 529 plans. This will change thanks to the FAFSA Simplification Act that was enacted in December 2020. The new law streamlines the FAFSA and makes changes to the formula that’s used to calculate financial aid eligibility.
Four Reasons to Review Your Life Insurance Needs
You may have purchased life insurance years ago and never gave it a second thought. Or perhaps you don’t have life insurance at all and now you need it. When your life circumstances change, you have a fresh opportunity to make sure the people you love are protected.
Types of Risk
In the investment world, risk generally is associated with uncertainty. It refers to the possibility that you will lose some or all of your investment or that an investment will yield less than its anticipated return. The more volatile an investment is–the more unpredictable its returns–the riskier it is generally considered to be.
Signs of a Scam and How to Resist It
Although scammers often target older people, younger people who encounter scams are more likely to lose money to fraud, perhaps because they have less financial
experience. When older people do fall for a scam, however, they tend to have higher losses.
Life Insurance Beneficiary Mistakes To Avoid
Life insurance has long been recognized as a useful way to provide for your heirs and loved ones when you die. Naming your policy’s
beneficiaries should be a relatively simple task. However, there are several situations that can easily lead to unintended and adverse consequences you may want to avoid.
Trust Basics
Whether you’re seeking to manage your own assets, control how your assets are distributed after your death, or plan for incapacity, trusts can help you accomplish your estate planning goals. Their power is in their versatility-many types of trusts exist, each designed for a specific purpose. Although trust law is complex and establishing a trust requires the services of an experienced attorney, mastering the basics isn’t hard.
Trust Basics
Whether you’re seeking to manage your own assets, control how your assets are distributed after your death, or plan for incapacity, trusts can help you accomplish your estate planning goals. Their power is in their versatility — many types of trusts exist, each designed for a specific purpose. Although trust law is complex and establishing a trust requires the services of an experienced attorney, mastering the basics isn’t hard.
