Republican Tax Plan Will Permit Grandparents To Establish 529 Plans for Grandchild’s K-12 Private School Education

The Republican tax plan that was finalized on Friday and expected to become law by the end of the year, contains many provisions that arguably benefit wealthier families.  One of the new provisions involves changes to 529 plan funding.  Under current law, tax-free 529 college savings accounts can be used only to pay for college.  But the Republican proposal allows parents or grandparents to use that money — up to $10,000 a year per child — to pay for private K-12 school tuition and home-schooling.

Some advocates of school choice have pointed out that it largely benefits wealthier families who can afford to save for private schools.  Also, public school advocates say it gives parents incentives to leave public schools, and that harms districts that rely on education funding based on how many pupils enroll.

About Jerry

Jerold E. Rothkoff, a practicing New Jersey and Pennsylvania attorney, is the Principal of the Rothkoff Law Group, an elder care law firm. Jerry dedicates his practice to serving clients in the areas of life care planning, long-term care planning, Medicaid & VA benefits, and advocacy for the elderly and disabled. He is past President of the NJ Chapter of the National Academy of Elder Law Attorneys, former chair of the elder law section of the NJ State Bar Association, and past President of the Life Care Planning Law Firm Association. Jerry continues to be an outspoken advocate for the rights of the elderly and disabled. He writes for and gives presentations regularly to attorneys and other professionals about legal issues related to seniors and those with disabilities. Jerry’s community activities include the Twilight Wish Foundation, the Delaware Valley Stroke Council, the Alzheimer’s Association, as well as numerous other advocacy groups. When not in the office, Jerry spends time with his wife, Erica, and their five children, eighteen-year old identical twin girls, Liza and Julia, fifteen-year old fraternal twin boys, Evan and Gregory, and six-year old Aitan.

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