Unraveling the Mysteries of Overfunded 529 College Savings Accounts: Your Ultimate Survival Guide
Welcome to the intriguing world of Section 529 college savings plans, where tax-free earnings and withdrawals dance hand in hand through the generations, promising a brighter future for your budding scholars.
Caution! Roadblocks ahead!
But what happens when the path to higher education takes an unexpected turn, leaving your 529 account bursting at the seams?
Fear not when life changes plan “A” to plan “B,” “C” or “D.”
We are about to embark on a journey through the twists and turns of overfunded 529 accounts to structure these assets to your family’s advantage!
You will leave our brief encounter today armed with not only ideas, but new found wisdom filling you with an arsenal of savvy financial strategies.
Scenario 1: The College Conundrum
Picture this: your ambitious offspring, niece, nephew, or grandchild, once eager for the hallowed halls of academia, suddenly declares a hiatus from higher education.
