College
Traditionally, 529 plans are the vehicle used to save for college. However, money in these accounts can be credited against financial aid calculations and are harder to use if higher education isn't sought. With a properly structured IUL, cash can accumulate at good compounding rates and be used if they choose to attend classes or not.
Home Ownership
Home ownership is more difficult these days, which is why it is important to start saving early. With crash protection and the growth potential of IUL policies, saving for a down payment is much more manageable. Help to ensure that your children have the footing they need to succeed.
Rainy Day Fund
At Tax Free Family, we believe that money should be there when you need it. Life can throw curveballs and it is important to be ready for anything. Having a long-term financial plan and cash growth vehicle is the best way to stay ahead of problems before they balloon.
Tax Favorable Trusts for Minors
UTMA and 2503c Tusts
Trusts are an excellent way of gifting your children assets at better tax rates. Consider setting up a trust and placing the IUL under its protection.
