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A glass jar labeled "EDUCATION" is filled with coins and has a graduation cap on top. The jar is placed on a wooden surface with a stack of coins beside it. The background is blurred greenery. This scene symbolizes saving money for education.

529 Plans: A Secret Weapon for College Savings

529 plans are tax-advantaged savings accounts to save for your child’s college education. The technical name given to the 529 plan by the IRS is a Qualified Tuition Plan (QTP). Under this QTP, a contributor can prepay a beneficiary’s qualified higher education expenses at an eligible education institution — or contribute to an account for paying those expenses in the future. Distributions from 529 accounts are tax-free when used for qualified educational expenses. A great

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Illustration showing the shape of the U.S. state of Michigan, highlighted in red. The state is divided into two main landmasses: the upper and lower peninsulas, separated by water and connected by the Mackinac Bridge. The image background is white, featuring a subtle MESP watermark.

Exciting Changes Ahead for Michigan 529 College Savings Plans

The Michigan Education Savings Plan (MESP) recently announced important enhancements to its 529 College Savings Plans. These changes take effect on June 15, 2020. MESP is expanding the current investment lineup to include underlying investment options from Vanguard, Charles Schwab and iShares while maintaining the existing investment offerings from TIAA-CREF.  In conjunction with the new investment offerings, account owners will see more of their 529 contributions put to work with a reduction in overall fees.

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Illustration of a graduate wearing a mortarboard and gown. A red price tag with a dollar sign hangs from the mortarboard, symbolizing the cost of education and highlighting the importance of 529 plans. The background is a solid light blue.

529 Plans: Student Loans Are Now Qualified Education Expenses

Each year the calendar provides a subtle reminder of the benefits of a section 529 college savings plan.  These plans offer tax-free growth of invested money as long as the funds are used for qualifying education expenses. In addition, many states offer tax deductions or credits for contributions made to eligible plans. The definition of qualified expenses within 529 plans has been expanded in recent years thanks to three pieces of legislation. All three changes

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A white piggy bank wearing a black graduation cap with a yellow tassel, symbolizing 529 Savings Plans. A dollar bill is sticking out from the slot on its back, set against a blue background.

The Benefits of 529 Savings Plans

Education costs continue to rise and the task of saving for college or trade school becomes more daunting each year. Fortunately, there is a village of supporters who want to help a child save for their education, including the ancillary expenses required to have a full and enriching educational experience. One of the most efficient and effective ways to accomplish this is by using 529 Savings Plans. 529 Savings Plans 529 Savings Plans are education

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A young woman holding a pencil interacts with an elderly woman and a toddler. The elderly woman is smiling and pointing at something on the table, perhaps discussing the benefits of a 529 College Savings Plan, while the curious toddler looks engaged. They are sitting together in a bright, cozy setting.

Turn a 529 College Savings Plan into a Family Legacy

Have you dreamed of leaving a legacy for your grandkids and future generations? Such a legacy does not require a vast fortune or risky investments. Instead, you can give your grandchildren the gift of opportunity (and money). Simply push the use of the 529 College Savings Plan to its fullest potential. Standard Use of the 529 College Savings Plan In case you’re not familiar with the primary benefit of the 529 Savings Plan, it is

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Four people are gathered indoors around a counter, engaging in conversation and looking at some documents. They appear to be in a lively discussion, with one person in the center expressing surprise or excitement while holding up a HIPAA form. Other individuals can be seen blurred in the background.

Do you have a HIPAA Form or Health Care Proxy for your Adult Child?

As parents, we guide, care for, and protect our children. We make informed, researched, and well-intentioned medical decisions and protect their health and well being. But on their 18th birthdays, they legally become strangers, off-limits to us from a medical and legal perspective. Without a HIPAA form or Health Care proxy, we no longer have access to their medical information. It also keeps us from guiding their care. Not being able to order refills of

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