We review the various planning techniques that grandparents might consider when planning for grandchildren. These include cash gifts, 529 contributions, Uniform Transfer to Minors accounts (UTMA), Uniform Gift to Minors accounts (UGMA), IRC Section 2503(c) trusts, and other alternatives.
Author: Dennis C. Reardon, JD, LLM, CLU, ChFC, is the principal of Reardon & Associates, a law firm in Wayne, PA, where he specializes in tax matters related to estate, business, and compensation planning. He is a fellow of the American College of Trust and Estate Counsel and is a frequent speaker at professional meetings throughout the United States.
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