Editor’s note: This is the first article in a six-part series focused on paying for education using smart financial and estate planning. Future articles will focus on 529 plans, Coverdell Education Savings Accounts, Uniform Transfer to Minor Accounts (UTMAs), education trusts and family loans.
It’s never too early to start thinking about how to pay for the education of your child, grandchild or someone else you want to support. The cost of schooling continues to increase in the United States, and not just in higher education. Even independent day and boarding schools are raising tuition at higher rates to retain teachers and keep pace with inflation. The good news is that paying for education can be done through smart financial and estate planning.
