Common Errors to Avoid with 529 Plans

Get the “411” on 529s…

From Saving for college with 529 plans can be a great idea for families.  Here are a few common mistakes people make and what you can do to avoid them:

* Assuming the university will withdraw from the plan for you – You must tell the plan how to disperse the money whether it’s a disbursement  to you, the student, or the university.

* Not allowing enough time for distributions – It may take up to two weeks to receive funds, so you don’t want to wait until tuition is due to request a check.

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Davis & Hodgdon Associates has been assisting businesses and individuals in the Burlington Vermont Metro area for more than 20 years. If you have any questions or concerns please feel free to call 802.878.1963 or email [email protected].

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