Saving for education of your grandchildren now, or are you planning to help your children, grandchildren or another child close to you with their education expenses?  There are many options to help you achieve this goal.

• Custodial Accounts (UTMA)
  
• 529 college savings plans
  
• Coverdell Education Savings Account (CESA)
  
• Traditional/ROTH IRAs
  
• Personal Investment
  
• Zero  Coupon Bonds
  
• Savings Bonds – Series EE & I
  

Each of these has differing uses, benefits, and drawbacks.

• Who can contribute?
  
• Contribution limit?
  
• Who has control?
  
• Qualified distributions?
  
• Income Tax considerations
  
• What happens to the unused balances?
  
• Financial Aid considerations
  
• Gift and Estate tax benefits
  
• Contributions may be irrevocable gifts
  
• Bonds may not receive the tax-free benefit for education expenses if issued incorrectly
  

The list goes on.  Are you confused yet?   When a client asks me about a complicated financial decision such as this, I always recommend they seek advice from a Certified Financial Planner.  Planning of this type requires a complex review of your assets and your intent to assure the plan you put in place will fulfill that intent and is a sound financial decision.

I work with Certified Financial Planners regularly and can provide referrals upon request.  Please contact me for more information and to discuss how your estate planning documents may be affected by this type of education planning.

Colleen J. Watters
Estate Planning Attorney
916-225-3570
cj@cjwatterslaw.com

www.cjwatterslaw.com

Pets are a joy to have, but did you know that they also help reduce stress, lower blood pressure, and can even help us live longer?

Recent studies show that pets have a significant and positive effect on humans.

In short, researchers found that:

• Petting and talking to an animal lowers blood pressure and stress levels
  
• Aquarium viewing is a proven stress buster
  
• Pet owners make fewer visits to the doctor
  
• Pets increase the survival rate of people with heart problems
  
• Pets Help Lower Blood Pressure
  

A recent study by Dr. Karen Allen at the State University of New York at Buffalo found that people with hypertension who adopted a cat or dog had lower blood pressure readings in stressful situations than did those who did not own a pet.

Pets Help Reduce Stress
Walking with a pet helps soothe nerves and offers instant relaxation. Studies conducted worldwide have shown that the impact of a stressful situation is lesser on pet owners, especially males, than on those who do not own a pet. The studies were done by Josephine M. Wills at Waltham Centre for Pet Nutrition in the United Kingdom.

Pets Help Prevent Heart Disease
Because pets provide people with faithful companionship, research shows that companion animals may also provide their owners with greater psychological stability, thus offering a measure of protection from heart disease. This according to a study at the National Institute of Health (NIH) Technology Assessment Workshop: Health Benefits of Pets.

Pets Help Lower Health Care Costs
The NIH Technology Assessment Workshop also found that people with pets actually make fewer visits to the doctor, especially for non-serious medical conditions.

Pets Help Fight Depression
Pets help fight depression and loneliness, promoting an interest in life. When seniors face adversity or trauma, affection from pets takes on great meaning. Their bonding behavior can foster a sense of security, according to Between Pets and People: The Importance of Animal Companionship by Alan Beck and Aaron Katcher.

And, don’t forget to include your pet(s) in your Estate Plan.  Contact me today to discuss how to assure your pet is safe should you become incapacitated or pass away. 

Colleen J. Watters
Estate Planning Attorney
916-225-3570
cj@cjwatterslaw.com
www.CJWwattersLaw.com