Samuel Alden

Generated from Sam’s facts by ArkLegacy’s sourced planning rules. Educational only - each routes to the right professional. Not advice.

• 529 education plan

  Sam already has a 529 on file.

  Already handled

  Possible benefits

  • Existing plan - review contribution pace against the education goal

  Important limitations

  • Current contribution limit not verified from an official source - professional review required before relying on any figure.

  Source

  IRS ↗

  Effective

  TY2026

  Reviewed

  Jul 22, 2026

  Review by

  CPA / tax

  Review the funding pace against the target in Goals & milestonesRULE 529 · TY2026 · NOT ADVICE

• Custodial account (UTMA/UGMA)

  Sam is a minor; a custodial account can hold gifts managed until the state age of majority.

  Likely eligible

  Possible benefits

  • Flexible (non-education) savings for the child
  • Simple to open at most custodians

  Important limitations

  • Assets become the child's at the age of majority
  • Unearned income may face the kiddie tax (IRS Topic 553)

  Assumptions: Gifts are intended to be irrevocable · Kiddie-tax thresholds reviewed by the CPA

  Source

  IRS (kiddie-tax topic) ↗

  Effective

  State law

  Reviewed

  Jul 22, 2026

  Review by

  CPA / tax

  Create a task to discuss a custodial account with the CPARULE utma · State law · NOT ADVICE

• Custodial Roth IRA

  Sam is 16 - old enough to earn income that could fund a custodial Roth.

  Needs information

  Missing facts

  • Confirmed taxable earned income for the year

  Possible benefits

  • Decades of tax-free compounding
  • 2026 IRA limit is $7,500 (IRS)

  Assumptions: Contribution capped at the lesser of earned income or the annual IRA limit

  Source

  IRS ↗

  Effective

  TY2026

  Reviewed

  Jul 22, 2026

  Review by

  CPA / tax

  Create a task to confirm the child's earned income with the CPARULE roth-minor · TY2026 · NOT ADVICE