Posts Tagged ‘Higher Education’

3 Easy Ways to Financially Help Your Children or Grandchildren

Do your children or grandchildren need some financial assistance?

Here are 3 Easy Ways to help them:


1) Make a Loan

Parents and grandparents can loan to their child or grandchild.  If this is the approach taken, a formal loan agreement should be drawn up.  This should include interest and the repayment terms.  The Internal Revenue Service (“IRS”) will require a minimum amount of interest to be charged.  This is known as the Applicable Federal Rate (“AFR”).  This … Continue reading »

How to Plan for College Using The 529 Plan

Next to saving for retirement, your biggest financial challenge is probably saving for your child’s college education.  College costs have skyrocketed!  People wonder how they will afford the cost of a college education in the future.  A 529 College Savings Plan is a very simple way to save money for your child’s college education.  The benefits are tremendous. Here are some highlights of the plan:

The Difference Between EE, HH, and I Savings Bonds

Clients frequently ask us about the tax effects of government savings bonds they have in their house or safe deposit box.  When this question comes up, it’s usually in the context of estate planning.  To give an appropriate answer, we need to gather some facts:

  • What type of bonds are they?
  • Who is the legal owner of the bonds?
  • When were the bonds issued and when do they mature?
  • What is the interest rate earned?