Unique Baby Shower Gift Ideas

Posted by Ned Armand, President of Eastern Point Trust Company on Dec 7, 2015

Kiss trust baby shower gift

Next time you are invited to a baby shower, reconsider traditional gifts that benefit the parent short-term. A trust-based savings plan is a thoughtful gift that shows that you care about the family's future, which can benefit them for a lifetime.

Key Takeaways

  • An all-in-one savings plan is a great baby shower gift, since it benefits both the parent and child long-term.
  • Make sure the account is easily accessible, like a Kiss Trust.
  • Choosing an account with many investment options gives you the freedom to grow your funds beyond the initial deposit amount.


Gifting Saving Plans To New Parents

Think Beyond Immediate Essentials for Baby Shower Gifts

New parents are often inundated with clothes, blankets, toys, and other items that newborns quickly outgrow. Instead, consider giving parents a gift that will grow with their newborn and help serve his or her needs later in life.

A savings account for a newborn is one of the most thoughtful gifts that family and friends can give, and an all-in-one savings plan is a smart decision for the gift buyer. Children born today can expect to pay over $200,000 for a four-year college degree, so not all children can afford college when the time comes. To best prepare for a child’s future decisions, savings accounts need the flexibility to remain relevant as the child matures. These easy-to-use and affordable plans are flexible, and can change with the shifting needs of every family.

Millennials Are Not Afraid to Ask

Members of the millennial generation are starting families. And these millennials who find themselves saddled with significant student debt are hoping to present their children with alternatives. This is why they are not shy about asking family and friends for money to save for their children. In fact, bridal registries often include accounts for new homes and other starter items for new families. Baby registries are beginning to see these same requests, moving away from traditional gifts. 82% of respondents said that they were in favor of having a college fund on their baby registry based on a poll taken by an independent media and technology company.

 

Benefits Of Gifting Saving Plans

Maximize Options

The gift of a savings account is a thoughtful offer from anyone, but it is important that it is done correctly. Investors should choose an account that offers a wide variety of investment options, such as mutual funds, EFTs, stocks, bonds, and more – ­unlike most 529s. Some 529 plans limit the grantor to one change per year, so choosing a plan that has flexibility additionally benefits the child. This flexibility is critical for when you need to change strategies more than once to adapt to a drastically changing economy.

Easily Accessible

With increasing interest in donations to college funds, it is important to choose a savings plan with easy accessibility. Research indicates that over 70% of grandparents are willing to make donations to grandchildren’s savings plans. Family members can gift up to $14,000 each year without paying gift tax. New parents should look for accounts with easy online gifting options to make donations as simple as possible for family.

You can give the gift of a lifetime by gifting a Kiss Trust to a new parent. Start today, and we will give you 60% off the standard price of a Kiss Trust.

Give The Gift Of A Lifetime Start Today And Receive 60% Off

 

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Tags: Trust Fund, DIY, New Child, Gift Trust

Navigate Through a New Financial Landscape After a New Baby Arrives

Posted by Ned Armand, President of Eastern Point Trust Company on Nov 30, 2015

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Planning for a newborn takes a lot of work – like planning the nursery, stocking up on diapers, and getting the perfect rocking chair – but, planning for a newborn's financial future can be more crucial, though it seems so far away. Make sure you are taking the right step in securing their future.

Key Takeaways

  • Be focused on saving for your new child by setting aside money for all of their future needs.
  • Plan for the worst by creating a will, purchasing a life insurance policy, and by choosing your child's guardian.
  • All-in-one estate planning tools make it easy for new parents to save for their child's financial future with packaged savings, investment, and trust solutions.


Protect Your Child's Future

In addition to preparing a nursery when a new baby arrives, new parents need to prepare savings plans, guardianship, life insurance, and a will to safeguard the newborn’s future.

Following a monthly contribution to a retirement fund or funds, parents should be prepared to deposit money into a child’s savings account or education savings plan. Affordable and easy all-in-one plans exist to guide parents through these processes to secure your family’s assets and financial future.

If necessary, savings plans are also available for Special Needs children that ensure an individual’s ability to qualify for government benefits. Tools also exist that can help preserve the ability to qualify for grants and scholarships. Flexibility is critical. All-in-one savings tools can reallocate assets to other distribution elections if the beneficiary decides not to pursue higher education. Kisstrust has just such tools to help prepare for your child’s future education and financial well-being.

Plan For The Worst

Choose Your Child's Guardian

It is imperative for a family to designate an individual to be the guardian to care for a minor or individual who is unable to care for themselves. While this is an emotional decision and often an obstacle for new parents, one approach is to look at it as a short-term assignment. The person best suited to care for your child or children while they are young may not be the best person to care for them as teenagers. However, it is important to select a guardian for your child as well as appoint a trustee with a trust that has a spendthrift Health Education Support and Maintenance provision to best safeguard distributions of your estate to your appointed guardian in the event they must raise your children in your absence.

Invest In Life Insurance

Life insurance policies should be established for both parents. Life insurance offers a tax-free cash payout. In the event of an unexpected death, a life insurance policy will help cover burial expenses, pay off debt, and protect loved ones. Maintaining life insurance policies will ensure that your loved ones are able to continue their current lifestyle in the event of a deceased parent. Proceeds of life insurance should go to a spendthrift trust to ensure that assets last.

Prepare A Will

Most importantly, new families need to prepare a will, which is imperative to allocate assets after your passing and according to your wishes. A will enumerates your instructions concerning actions following death. This is a fluid document that can be updated as often as necessary. However, in order to be valid, it must comply with certain requirements. An easy, and affordable, self-help will preparation tool can walk you through the process. US Legal Wills is a trusted provider of online wills.

All-In-One Estate Planning Tools

While seemingly overwhelming, estate planning is necessary to safeguard your assets and care for loved ones. Fortunately, savings plans can be accomplished with easy to use, all-in-one tools that are proven by courts, government agencies, and financial institutions, to secure family finances. Save time, money, and effort by visiting an all-in-one savings plan provider for your family’s savings.

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Tags: Trust Fund, New Child

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