- This topic has 85 replies, 11 voices, and was last updated 13 years, 3 months ago by
EconProf.
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March 11, 2011 at 12:18 PM #676052March 11, 2011 at 1:59 PM #676119
UCGal
ParticipantIf they change the rules, I’ll adjust my plans. Until they change them… I’ll keep saving in 529’s and hoping for the best.
If they look at home equity, then I can’t do anything about that.
I know the rule used to be that they considered 20% of the parents assets as available – but 100% of the kids assets. So a UGMA puts it in the 100% bucket since it’s owned by the kid.
I can only save/plan based on the rules as they exist. I haven’t figured out how to predict the future.
March 11, 2011 at 1:59 PM #676062UCGal
ParticipantIf they change the rules, I’ll adjust my plans. Until they change them… I’ll keep saving in 529’s and hoping for the best.
If they look at home equity, then I can’t do anything about that.
I know the rule used to be that they considered 20% of the parents assets as available – but 100% of the kids assets. So a UGMA puts it in the 100% bucket since it’s owned by the kid.
I can only save/plan based on the rules as they exist. I haven’t figured out how to predict the future.
March 11, 2011 at 1:59 PM #676730UCGal
ParticipantIf they change the rules, I’ll adjust my plans. Until they change them… I’ll keep saving in 529’s and hoping for the best.
If they look at home equity, then I can’t do anything about that.
I know the rule used to be that they considered 20% of the parents assets as available – but 100% of the kids assets. So a UGMA puts it in the 100% bucket since it’s owned by the kid.
I can only save/plan based on the rules as they exist. I haven’t figured out how to predict the future.
March 11, 2011 at 1:59 PM #676868UCGal
ParticipantIf they change the rules, I’ll adjust my plans. Until they change them… I’ll keep saving in 529’s and hoping for the best.
If they look at home equity, then I can’t do anything about that.
I know the rule used to be that they considered 20% of the parents assets as available – but 100% of the kids assets. So a UGMA puts it in the 100% bucket since it’s owned by the kid.
I can only save/plan based on the rules as they exist. I haven’t figured out how to predict the future.
March 11, 2011 at 1:59 PM #677212UCGal
ParticipantIf they change the rules, I’ll adjust my plans. Until they change them… I’ll keep saving in 529’s and hoping for the best.
If they look at home equity, then I can’t do anything about that.
I know the rule used to be that they considered 20% of the parents assets as available – but 100% of the kids assets. So a UGMA puts it in the 100% bucket since it’s owned by the kid.
I can only save/plan based on the rules as they exist. I haven’t figured out how to predict the future.
March 11, 2011 at 3:40 PM #676144an
ParticipantI personally think Coverdell is the best, but it only limit to $2k/beneficiary. That’s hardly enough to pay for college even if you star to save from day 1. I say if you want to be able to pay for their college 100%, you need Coverdell and 529 and/or custodial accounts. I prefer Coverdell AND custodial for their flexibility.
March 11, 2011 at 3:40 PM #677237an
ParticipantI personally think Coverdell is the best, but it only limit to $2k/beneficiary. That’s hardly enough to pay for college even if you star to save from day 1. I say if you want to be able to pay for their college 100%, you need Coverdell and 529 and/or custodial accounts. I prefer Coverdell AND custodial for their flexibility.
March 11, 2011 at 3:40 PM #676755an
ParticipantI personally think Coverdell is the best, but it only limit to $2k/beneficiary. That’s hardly enough to pay for college even if you star to save from day 1. I say if you want to be able to pay for their college 100%, you need Coverdell and 529 and/or custodial accounts. I prefer Coverdell AND custodial for their flexibility.
March 11, 2011 at 3:40 PM #676893an
ParticipantI personally think Coverdell is the best, but it only limit to $2k/beneficiary. That’s hardly enough to pay for college even if you star to save from day 1. I say if you want to be able to pay for their college 100%, you need Coverdell and 529 and/or custodial accounts. I prefer Coverdell AND custodial for their flexibility.
March 11, 2011 at 3:40 PM #676087an
ParticipantI personally think Coverdell is the best, but it only limit to $2k/beneficiary. That’s hardly enough to pay for college even if you star to save from day 1. I say if you want to be able to pay for their college 100%, you need Coverdell and 529 and/or custodial accounts. I prefer Coverdell AND custodial for their flexibility.
March 11, 2011 at 4:02 PM #676908Scarlett
ParticipantDoesn’t Coverdell have a limit for the parents income ($95K single, 190K joint)?
March 11, 2011 at 4:02 PM #677252Scarlett
ParticipantDoesn’t Coverdell have a limit for the parents income ($95K single, 190K joint)?
March 11, 2011 at 4:02 PM #676159Scarlett
ParticipantDoesn’t Coverdell have a limit for the parents income ($95K single, 190K joint)?
March 11, 2011 at 4:02 PM #676770Scarlett
ParticipantDoesn’t Coverdell have a limit for the parents income ($95K single, 190K joint)?
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