New Rule Enables Grandparents to Contribute More Money to 529 Plans
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Q. My son, Bryan, is entering middle school. His grandfather (my dad) is coming for a BBQ for Father’s Day this weekend and we are also celebrating Bryan’s birthday. My dad has been contributing to a 529 plan to help pay for Bryan’s future college
education for years, but is concerned about continuing to do so. He heard that it can affect any financial aid that Bryan may be eligible for and also could hurt my dad’s eligibility for Medicaid in the future if my dad ever needs nursing home care. My dad would really like to continue contributing to the 529, as he had been doing on birthdays and Christmas. Are his fears legitimate? Thanks for your help!
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Critter Corner: When Father’s Day Isn’t a Joyful Occasion
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Dear Oakley,
When I flip through Facebook, walk into the greeting card aisle at the store, or turn on the TV, I see advertisements and cards for a Happy Father’s Day. I lost my dad a few years ago and my husband and dad of our three children last year, and Father’s Day can be especially hard for me. What are some tips for handling grief on a day when most people are
celebrating?
Missy Ng-Himm
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