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Providing for your children’s education is one of the finest gifts you can give them. But education costs can be significant and are climbing rapidly every year. That’s why it’s vital to begin your education funding program early - and to carefully integrate it with your retirement and estate plans.
At City National we offer a variety of tax-advantaged vehicles to help you build your college fund. In fact, there are almost too many choices - and their provisions and tax impacts vary widely. For example, 529 college savings plans differ from state to state - some allow large contributions without gift taxes; some are less generous. Another example: many parents don’t realize that Coverdell accounts can be used to fund private school education at the K-12 level. Designing the right strategy - and choosing the appropriate vehicles to implement it - are critical.
City National Securities offers 529 College Savings Plans. Learn more »
Our planning professionals will follow a disciplined process to develop an education funding program that meets your specific requirements. We help define and quantify what you will need, identify the best funding sources, and develop individualized savings strategies to accomplish your goals. Our approach is holistic, blending tax considerations, investment vehicles, your time horizon, and the need to also keep your other personal goals such as retirement on track.
As with any long-term financial objective, the sooner you start the better. Please contact us for more information.
To learn more about how our planning professionals can help you can help you achieve your financial goals, please contact us at (800) 773-7100, Monday through Thursday 7:00 a.m. - 5:30 p.m. and Friday 7:00 a.m. - 6:00 p.m. (PT).
|Investment and Insurance Products:
• Are Not insured by the FDIC or any other federal government agency
• Are Not deposits of or guaranteed by a Bank or any Bank Affiliate
• May Lose Value
City National, as a matter of policy, does not give tax, accounting, regulatory or legal advice. The effectiveness of the strategies presented in this document will depend on the unique characteristics of your situation and on a number of complex factors. Rules in the areas of law, tax and accounting are subject to change and open to varying interpretations. The strategies presented in this document were not intended to be used, and cannot be used for the purpose of avoiding any tax penalties that may be imposed. The strategies were not written to support the promotion or marketing to another person any transaction or matter addressed. Before implementation, you should consult with your other advisors on the tax, accounting and legal implications of the proposed strategies based on your particular circumstances.