Trusts. They’re important for both Special Needs parents and standard normal children because it puts money in a protected form where creditors cannot attach to it. So, if you’re in financial debt, if you’re behind on your payments, if your children are in debt, the money they receive in an income tax-free format, up to $5.8 million, is theirs and the creditors can’t attach to it.
The main importance of a trust is for tax implications for the receiver. If a person is not a good money manager, if a
So what happens when your child gets a full scholarship and you’ve already set money aside in a 529 plan versus a life insurance
At what point as a parent should I start thinking about a kid’s college education? That’s a great question. Realistically, during pregnancy, in the
There are drastic differences between saving for retirement and saving for college. The biggest difference is the length of time you have to prepare
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