When Estate Planning practitioners talk about the “Holy Grail” of Estate Planning, they generally mean the intentionally defective grantor trust which includes the assets contributed to it in the grantor’s income tax for income purposes but excludes such assets from the grantor’s estate for estate tax purposes. The 529 plan provides yet another example of the “Holy Grail” in Estate planning by allowing tax-free growth, control of the plan until the death of the grantor without estate tax inclusion, and protections in the event of bankruptcy, among other things. Read on to learn more.
Beth Mitchell is a partner in the law firm of Mitchell & Faix. Beth devotes her practice to estate planning, elder law, special needs planning, and probate and trust administration. She is a member of the American Academy of Estate Planning attorneys, the National Academy of Elder Law attorneys, the Denver Bar Association, and the Colorado Bar Association Read More!
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