Presentation on theme: "Threshold Planning Solutions Wills with Guardianship Provisions Testamentary Trusts Life Insurance 529 College Savings Plans Health Care Powers."— Presentation transcript:
Threshold Planning Solutions Wills with Guardianship Provisions Testamentary Trusts Life Insurance 529 College Savings Plans Health Care Powers of Attorney
Choosing a Guardian Age consistent with yours Share your moral values Willing to take on this responsibility MAKE SURE YOU TELL THEM Provide financial resources
Wills with Testamentary Trust Provisions More than “Hugs & Kisses” Appoint Your Guardians Fund with life insurance Trust determines how and when your funds are distributed Consider separate trustees?
529 College Plans Tax consequences similar to Roth IRA’s No upfront deduction Tax free earnings No tax upon withdrawal! No age or income limits Anyone can contribute
529 College Plans, Cont’d Can contribute up to $330,690 Can transfer to other children RI CollegeBound funds www.529solutions.com www.529solutions.com www.independent529plan.org www.independent529plan.org
Life Insurance & Health Care POA’s Life insurance sufficient to pay debts Life insurance to fund trust for minors Health care power of attorney