Ian Filippini Estate Planning 101: Grandparent Edition Part 1

Ian Filippini

Ian Filippini

Ian Filippini

Estate Planning 101: Grandparent Edition Part 1

Usually by the time you are a grandparent, you have an estate plan in place, and you probably have had one for a while.  You also probably have a financial planner that you have worked with over the years, or maybe are trying out a new financial planner to review items in your current estate plan.  Hopefully, grandparents, you do have an estate plan and do have it reviewed regularly.  Estate plans can do a lot of things to preserve your estate after you are gone, but can also help your grandchildren while you are still here.  Your financial advice should always come from a dependable financial professional.  Ian Filippini is a reliable and knowledgeable professional financial consultant.  In this article Ian Filippini will briefly discuss what a 529 account is and why it is a good idea to set one up.

Ian Filippini has heard from many people the stress of putting their children, and now perhaps their grandchildren through college.  With the financial climate the way it has been for the past decade, Ian Filippini has noticed an increase in the amount of grandparents that are paying for college tuitions, versus parents.  It is for this reason, says Ian Filippini that any grandparents with an estate plan that are planning for their grandchildren to go to college to create a 529 account.

Ian Filippini knows that many people have not even heard of a 529 account.  What is a 529 account?  Ian Filippini says that whatever is in a 529 account is not considered part of your taxable estate.  That is the basic tenet of a 529 account, according to Ian Filippini, and this would save money making it easier to pay for a grandchild’s college tuition.  You also retain full control of the account.

Ian Filippini, is currently the president of Filippini Financial Group, Inc. He has made time to author a number of articles relating to estate taxes, pre-nups, insurance, tax, asset protection, financial advice, real estate, and estate planning. Filippini Financial Group, Inc. and Ian Filippini have spent many years using their unique knowledge. With their hands on approach, they able to continually provide value to hundreds of retirees and pre-retirees in many areas of wealth management.

Filippini Financial Group, Inc. was formerly established by Ian Filippini’s late father Alfred Filippini (passed in the year 2009). Filippini Financial Group, Inc. is located on Coast Village Road in Montecito, California. Ian Filippini’s mother, Deborah Filippini, and brother, Alex Filippini, moved to the Montecito and Santa Barbara region.

No advice is given or intended.  This article is not to be considered legal advice.  Ian Filippini is not an attorney.  Filippini Financial Group, Inc. is not a law firm.