529 Accounts CLE

The American Bar Association Section of Real Property, Trust and Estate Law and the ABA Center for Continuing Legal Education are sponsored a teleconference and live audio webcast on November 11, 2008 entitled The Educated Use of 529 Accounts: Opportunities, Risks, and Complexities

Here is a description of this program:

529 accounts provide a tax-advantaged way for clients to save for college and graduate school, but trust and estates lawyers need to be able to advise their clients on the complicated rules and potential pitfalls.

This program will examine the tax and other advantages of 529 accounts, including creditor protection and favorable financial aid treatment.  Our experts will also discuss the complexities of:

• Gift tax consequences of changing beneficiaries
• Income tax consequences of nonqualified distributions
• Anti-abuse rules
• Five-year election
• Trusts as account owners