Kiplinger Encourages Grandparents to Donate Big to 529
Not every family will be able to take advantage of the new tax law and its adjustments to 529s. However, grandparents with means looking to reduce their estate tax can make large donations to their grandchildren's 529. The Kiplinger article goes into some nice detail about how this can work to allow $150,000 gifts for each grandchild every 5 years. Of course for the vast majority of families, estate taxes are not the problem. Saving and paying for college is the problem. However, getting grandparents involved is a great way to grow the savings for your kids. Donations to a 529 instead (or in addition) of a sweater, socks, or another video game, is a gift that can grow over time. Please sign up for more information about Grads529 here.