- Saving for college is one of the first things that come to mind for joyful new grandparents these days.
- UTMAs, 529 plans and irrevocable gift trusts can be excellent, tax-advantaged ways to fund a child’s or grandchild’s education.
- Remember, some trusts and gifts automatically transfer to the child at age 21. You may not be able to control what he or she does with all the money that’s accumulated. Consult your advisor.