From custodial accounts to trusts, Baby Boomers can take part in the great wealth transfer in ways that won’t burden their kids with extra taxes. Editor’s note: This is part two of a three-part series aimed at helping parents and their children manage generational wealth. Part one is Four Ways Parents Can Help Kids Be First-Time Home Buyers.We are in the midst of a great wealth transfer. Baby Boomers who have built their wealth are now looking to help their children get a head start financially.
The SEC’s Office of Investor Education and Advocacy is issuing this Investor Bulletin to answer questions that may arise when investing in a 529 plan account. Please also see our companion Bulletin, An Introduction to 529 Plans, for background information on the plans.