Ian Filippini

Ian Filippini

Ian Filippini

Estate Planning 101: Grandparent Edition Part 2

Most people, by the time they are grandparents, have an estate plan set up, and have probably had one for a while.  Grandparents also probably have a financial planner that they have worked with over the years, or maybe are trying out a new financial planner to review items in their current estate plan.  Hopefully, grandparents, you do have an estate plan and do have it reviewed fairly regularly, especially when any life changing events happen.  Estate plans can do a lot of things to preserve your estate after you are gone, but can also help your grandchildren, or you and your spouse, while you are still here.  Your financial advice should always come from a dependable financial professional.  Ian Filippini is a reliable and knowledgeable professional financial advisor.  In this article Ian Filippini will briefly discuss some things you should think about when planning to create a 529 account.

Ian Filippini has heard this question from clients in the past:  If I have money set aside for my grandchild’s college fund and something happens to me in the meantime, can I use that money for my own medical expenses and care, or can it only be used for what it was originally set aside for?  Ian Filippini says that the short answer is yes!  In a 529 account, according to Ian Filippini, one of the perks is that you can take any amount of the money out of the account for any reason at any time.  Ian Filippini reminds everyone that there will be taxes taken out still, but usually not significant.

Ian Filippini thinks it is a smart plan for all grandparents to set up a 529 account.  Ian Filippini knows that someone will need that money at some point in time for something important.

Ian Filippini, the current president of Filippini Financial Group, Inc., has written a number of articles. The articles range from topics relating to real estate, insurance, tax, asset protection, financial advice, to estate planning. Filippini Financial Group, Inc. and Ian Filippini have spent several years with their unique expertise. The hands on approach continues providing value to hundreds of retirees and pre-retirees in many areas including wealth management.

Filippini Financial Group, Inc. was originally crafted and founded by Ian Filippini’s late father Alfred Filippini (passed away as of the year 2009). Filippini Financial Group, Inc. is located on Coast Village Road in Montecito (Close to Santa Barbara). Ian Filippini’s mother, Deborah Filippini (Debbie), and brother, Alex Filippini (Big Al), moved to the Montecito and Santa Barbara area.

No advice is given or intended.  This article is not to be considered legal advice.  Ian Filippini is not an attorney.  Filippini Financial Group, Inc. is not a law firm.