Education Planning

We at Legacy Wealth Planning know that one of the top priorities for parents is saving for a child’s education. For professional college savings planning, call on us.

How much will College Cost?

What college savings plans are available?

What’s the difference between a:

  • 529 College Savings Plan

  • UTMA / UGMA

  • Coverdell Education Savings Account

  • Prepaid Tuition Plans

We can help explain the implications of your investment decisions and can help you create a strategy for a college savings plan that will work towards balancing capital appreciation and preservation.

Saving for College

We want to help you understand the differences and the benefits of these college savings plans. We will be happy to review these options with you. When it comes to college planning, it is important to choose an appropriate investment plan. Let us show you the different types of college savings plans available to you.

A 529 college savings plan can be used for a student at any age. A 529 was developed for those saving to pay for higher education. For more information give Legacy Wealth Planning a call.

A common choice for a college savings plan is the UGMA/UTMA accounts. These are custodial accounts that can be used for any expenses that benefit the child. UGMA stands for Uniform Gifts to Minors and UTMA stands for Uniform Transfers to Minors Accounts. If you have any questions our friendly advisors can help answer them and get you started on college savings.

The Coverdell Education Savings Account was created to help pay for your child's education. This type of college savings plan used to be called an Education IRA.

One other option is a Prepaid Tuition Plan. This type of college savings plan involves purchasing your child's college tuition today at today's costs, so that they can attend school at a later date.

To schedule a time to sit down with one of our advisors, contact us at (775) 850-2500. Legacy Wealth Planning serves all of Northern Nevada, including: Reno, Sparks, Carson City, Lake Tahoe and the surrounding areas.

Disclaimer: Prior to investing in a 529 Plan investors should consider whether the investor's or designated beneficiary's home state offers any state tax or other state benefits such as financial aid, scholarship funds, and protection from creditors that are only available for investments in such state's qualified tuition program. Withdrawals used for qualified expenses are federally tax free. Tax treatment at the state level may vary. Please consult with your tax advisor before investing.​