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Monthly Archive for: ‘February, 2022’

Boosting the Tax Benefit of Paying for Grandchildren’s Educational Expenses

Paying for a grandchild’s educational expenses can be a very tax-efficient and asset-protected way to transfer wealth that would otherwise be subject to gift or estate tax, plus an additional generation skipping tax. You can start by giving up to $80,000 ($160,000 if married) to a 529 Educational Savings, per grandchild, and then another $16,000 ($32,000 if married) every year […]

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