Planning area

Education funding

Paying for school is usually a long, predictable expense, which makes it well suited to planning. The questions are how much to set aside, in which accounts, from whom, and how that fits with the family’s other goals.

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What we look at

529 plan contributions and state tax deductions where available
Gifts from grandparents and the annual gift exclusion
Contributing several years at once
Funding timelines for each child or grandchild
Options for unused 529 balances, including Roth IRA rollovers where eligible
How education costs fit within the family’s multi-year projection

Planning across generations

Education funding often involves grandparents as well as parents. The plan shows how gifts from each generation work together and how they fit with the family’s estate and gifting goals.

Questions

Common questions.

Can grandparents’ contributions be included?

Yes. Plans often cover gifts from grandparents, including how they count toward annual gift limits.

Does the plan cover private K–12 school?

Yes, where relevant. The plan notes what each type of account can and cannot be used for.

Related planning areas.

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