Serving Clients Throughout Southern California
Tuition, room and board have increased at colleges across the country at brisk pace. Nearly every year tuition increases. If you have children or grandchildren, it is only normal to be concerned with how they will pay for their education. The two girls standing by the suitcases fared well. However, their parents both lost their fathers long before college even started. The sooner you start planning, the more you can do to prepare for the risks of life. At The Law Offices of Rickard L. Borg, our Carlsbad college fund trust can help you prepare for the funding of the college educational needs of your family members and loved ones. We are pleased to work hand in hand with your financial planner.
A Practical Approach to Finding Solutions
With two grown-up daughters, attorney Rickard Borg understands what a difference a college fund can make. Having set up numerous trusts for clients and also provided for the education of each of his daughters, he has witnessed firsthand how proper college funding works, and he is ready to help your family meet its unique needs.
529 Plans and Working Investments
A common way to save for college is through a 529 plan. These plans offer a number of benefits to families and students, including tax benefits, protection from creditors and exemption from some California financial aid calculation.
In California, many households have funded college education via real estate investments.
Now, this alternative may have lost some of its prior attraction. We are pleased to assist you in placing any investment vehicle you choose into a working trust.
The money invested into a 529 plan through your financial planner or broker can cover a wide range of academic expenses, including tuition, fees, books and other supplies. There are two types of 529 plans available, and our firm can help you set up either:
- Prepaid: You can buy college credits at today's rates, before they go up, and cash them in when your child is ready to go to school.
- Savings: Like any investment plan, a 529 savings plan will allow you to invest in the open market and help grow your investment until your child goes to college.
When developing a 529 plan or other college fund trust such as real estate or a brokerage account, you want to come up with a plan that is appropriate to your child's age. We work with your investment professional to facilitate your goals.
It is vitally important to be sure to properly fund any trust you draft as this is one of the most common oversights in trust planning. We assist all clients in funding their trusts to the extent they desire.
Contact Us
In addition to his 35 years of legal experience, planning lawyer Rick Borg has personally gone through the college fund trust planning experience. By setting up a college fund, he can help you provide your children with the opportunities they deserve. In addition to our weekly business hours, we offer evening and weekend appointments. Contact Marge, Vanessa or Rick online, or call 760-729-2313 today to schedule a free initial consultation.
