Educational Planning (529 Plan)

Quincy Cass Associates Professionals

Education Planning for Loved Ones

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Quincy Cass Associates, is a registered broker-dealer allied with National Financial Service Corporation (NFSC), a Fidelity Investments company, which provides all clearing services for our client accounts. We are able to act in a traditional brokerage manner including the following investments and additional services:

What is a 529 Plan?

A 529 plan is a smart strategy for a tax-advantaged investment vehicle designed to save for college and other post-secondary training for a designated beneficiary, such as a child or grand-child.

A 529 plan is operated by a state or educational institution, with tax advantages and potentially other incentives to make it easier to save for college or post-secondary training for a designated beneficiary.  Anyone living in any state may participate in the Fidelity 529 plan.  Your beneficiary may pay for higher education expenses at any accredited college or university.

How does a 529 Plan work?

A 529 plan can be created by contacting Quincy Cass Associates, Inc. and completing a simple application form:

1. Complete application form
2. Fund the account
3. Rest knowing your beneficiary will have funds to meet
4. Some or all future educational expenses.

Advantages of a 529 Plan:

Tax Advantage:  Withdrawals are tax free from federal income taxes when used for a qualified higher education expense such as tuition, room and board.

Control and Flexibility: Complete control of the account even after beneficiaries turns 18.
Flexibility to use the funds at most accredited colleges and universities
No income requirements for opening an account

Estate Planning and Accelerated Gifting:
Assets gifted to a 529 plan are considered removed from the donor’s estate.

Contribution limits
i. $17,000 each year per Child
ii. $34,000 each year if married filing jointly
iii. $85,000 5-year lump sum accelerated
iv. $170,000 5-year (if married filing jointly)

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Investment Banking

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