A direct cash gift gives the recipient immediate control of the funds, while a 529 plan gift is restricted to qualified education expenses (although up to $35,000 can later be rolled into a Roth IRA for the beneficiary). Both count toward the annual gift tax exclusion of $19,000 per recipient. A 529 offers tax-free growth and can be superfunded with up to five years of exclusions at once — $95,000 for an individual or $190,000 for a couple — removing more assets from your taxable estate in a single year.
We exist so you don’t have to worry about money. For more than 40 years, we’ve taken the sophisticated, time-tested approach that many ultra-high net worth individuals use to help manage their financial lives and made it accessible to more families.
