My Dad’s 529 Solicitation letter to his family
As I mentioned in my monthly report, my dad after setting up my 529 plan sent out this letter to all his relatives. Here it is
Jack’s birthday is only 99 days away so for those of you who are wondering what to get him for his birthday I have an idea. I just recently set up Jack a 529 College Savings account and rather than getting him clothes he will wear once, toys I won’t know how to put together, or savings bonds that I will lose…..you might want to consider contributing to his college fund.
The good news is that any money parents, grandparents, aunts, or uncles contribute to his account is tax deductible for you, so you can get more bang for your buck if you contribute this way. Example if you contributed $40 you would get roughly $10 back on your taxes. Note: You can only contribute up to $3000 per year so if you were thinking about contributing more than that you might want to spread it out over a couple years to get the full tax benefit 
In order to contribute to his College Savings plan AND get the tax credit you need to make the check out to Edvest. You can then just give that to us and we can put his account number on it and send it in or you can put his account number 2723-2501047557 in the memo field and mail it to
EdVest
c/o Wells Fargo
P.O. Box 3152
Milwaukee, WI 53201-3152
Also here is a note on the claiming the tax deduction
An individual contributing to an EdVest account who is not the account owner will need to retain a copy of the check that cleared. This check will include the date, the amount of the contribution, and the payee for tax reporting purposes. In addition, contributors need to include the account number on their check, or include a letter that references the account number. Documentation on contributions made to an EdVest account is only routinely sent to the account owner.
Anyway you don’t have to contribute to this account, just thought it might make birthday/Christmas shopping easier for some of you and it’s something he’ll appreciate later in life when he goes to college.
on March 30th, 2006 at 2:49 pm
Wow, this is a great idea. Please let us know when the birthday comes and goes what kind of response you got. Were folks offended? Did they still feel like they had to send toys, too? How many contributions did you get?
Thanks.