Ian Filippini

Ian Filippini

Ian Filippini

Estate Planning 101: Grandparent Edition Part 3

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

Ian Filippini has had clients as him many questions over the years regarding 529 accounts.  As Ian Filippini discussed in part 1 of this article series, a 529 account is one that you can make to set aside money for your grandchildren’s college funds; you are free to use the money at any time and for anything you wish, but it is usually intended for college money.

Ian Filippini has heard this specific question: if you have more than one grandchild that you want to help, should you set up a separate account for each?  Ian Filippini says that you should create a separate account for each grandchild.  Ian Filippini says that this will make dispersing money to them easier if you are already gone.  In this instance, asserts Ian Filippini, your intentions are clear on who gets how much.  If you were to create only one account for multiple grandchildren, it could get confusing.

Ian Filippini is currently the president of Filippini Financial Group, Inc. He also set time aside specifically to write a number of articles relating to real estate, insurance, tax (federal and or state), asset protection, financial advice, and estate planning. Filippini Financial Group, Inc. and Ian Filippini have spent many years using their expertise and hands on approach. They are uniquely qualified to provide value to hundreds of retirees and pre-retirees in many areas of wealth preservation and or management.

Filippini Financial Group, Inc., originally founded by Ian Filippini’s late father Alfred Filippini, is located on Coast Village Road in Montecito, California. Ian Filippini’s youngest (by a year and half) brother, Alex Filippini (also worked with Filippini Financial Group, Inc.), and mother, Deborah Filippini, relocated to the Montecito and Santa Barbara area.

Filippini Financial Group, Inc. is not a law firm. This article is not to be considered legal advice.  Ian Filippini is not an attorney.