The College Planning Institute

Special tax rules that govern these accounts allow you to pare down your taxable estate, potentially minimizing future federal gift and estate taxes. 529s allow you quite a bit of control, especially if you title the account in your name. You can gift $75,000 per recipient ($150,000 for married couples) as long as you denote your five-year gift on your federal tax return and do not make any more gifts to the same recipient during that 5-year period. Many plans offer you several investment choices, including diversified portfolios allocated among stocks and mutual funds.

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