Midyear Financial Review: 5 Things Your Wealth Advisor Wants to Discuss
A volatile stock market and the new tax law make it essential to schedule a midyear review with your wealth advisor this year.
- Managing Your Assets Personalizing Your Investment Portfolio
- Philanthropy Family Philanthropy: Finding Values Across Generations
- Wealth & Your Family Helping Your Children Connect Wealth With Their Values
- Trending Topics 5 Ways Financial Technology Is Shaping Your Future
- Transferring Your Wealth Special Needs Trusts: An Estate-Planning Strategy for Parents and Grandparents
What can Wells Fargo do for you?
Talk to us about crafting strategies for managing both sides of your balance sheet.
*Please consider the investment objectives, risks, charges, and expenses carefully before investing in a 529 savings plan. The official statement, which contains this and other information, can be obtained by calling your financial advisor. Read it carefully before you invest.
- Section 529 plans are subject to enrollment, maintenance, administrative, and management fees and expenses.
- Nonqualified withdrawals are subject to federal and state income tax and a 10 percent penalty.
- College savings plans offered by each state differ significantly in features and benefits. The optimal plan for each investor depends on his or her individual objectives and circumstances. In comparing plans, each investor should consider each plan’s investment options, fees, and state tax implications.
- The Tax Cuts and Jobs Act includes a provision that allows 529 plans to be used for K–12 education expenses, including private school tuition and elementary and secondary school expenses. While the Act creates federal guidelines for 529 plans, it still allows states to create their own parameters. Before taking a distribution for a K-12 education payment, be sure to understand your state’s view to avoid any potential taxes, penalties, or recapture of a prior year’s tax deduction or credit.
An investor should consider, before investing, whether the investor’s or designated beneficiary’s home state offers any state tax or other state benefits, such as financial aid, scholarship funds, and protection from creditors that are only available for investments in such state’s 529 college savings plan.
Wells Fargo Wealth Planning Center, part of Wells Fargo Private Bank, provides wealth and financial planning services through Wells Fargo Bank, N.A., and its various affiliates and subsidiaries.
Wells Fargo & Company and its affiliates do not provide legal advice. Wells Fargo Advisors does not provide tax or legal advice. Please consult your tax or legal advisors to determine how this information may apply to your own situation. Whether any planned tax result is realized by you depends on the specific facts of your own situation at the time your taxes are prepared.