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20 August, 17:44

A woman in the highest tax bracket has $105,000 to invest for her teenage child's college education. She wants to make sure that, if he doesn't attend college, that he will not have access to these funds. She should be advised to make the investment in a:

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  1. 20 August, 18:02
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    In a 529 PLAN

    Explanation:

    A 529 program is a tax-advantageous financial plan aimed at promoting projected cost benefits for tuition.

    529 Plans, technically referred to as' eligible education programs,' are funded by Governments, and are approved under Section 529 of the Internal Revenue Code.

    529 plan will always be in the hands of the guardians, it will not be changed when the child hits adulthood.

    These plans are for higher learning only
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