Today’s post shifts focus some.  Estate planning seeks to pass on as large or robust an estate as possible.  Prudent estate planning also ensures that those charged with preserving and growing that estate are up to the task.  529 plans accomplish both.  They allow savings for a specific, educational purpose, and they minimize tax liability along the way. What’s a 529? 529 plans are named after Section 529 of the Internal Revenue Code, which was passed by an act of Congress in 1996.  There are two types of plans: prepaid and savings.  A prepaid plan lets a taxpayer pay for tuition at today’s rates, rather than paying tuition at the then prevailing rates years later when the taxpayer’s child actually attends college.  It’s a hedge against inflation generally and the ever increasing cost of college specifically. A savings plan is one in which the taxpayer makes contributions to a plan or a fund, with the expectation that the investment in the fund appreciates in value over time.  In some ways, it’s similar to several other savings …