Now that another school year is drawing to a close, your young children are a step closer to the day when they’ll be heading off to college. Of course, as you’re probably aware, higher education doesn’t come cheap — and the costs seem to continuously climb. You can help your children — or even your grandchildren — meet these expenses by investing in a 529 plan. And this college savings vehicle offers estate-planning benefits.
As a college funding vehicle, a 529 plan offers some significant benefits. When you contribute to a 529 plan, your earnings accumulate tax free, provided they are used for qualified higher education expenses. (Keep in mind, though, that 529 plan distributions not used for qualified expenses may be subject to federal and state income tax and a 10% IRS penalty.) Furthermore, your 529 plan contributions may be deductible from your state taxes. However, 529 plans vary, so be sure to check with your tax advisor. And the lifetime contribution limits for 529 plans are quite generous; while these limits vary by state, many plans allow contributions well in excess of $200,000. Plus, a 529 plan is flexible: If the child, grandchild or other beneficiary decides against college, you can transfer the unused funds to someone else, tax and penalty free.

It is Memorial Day Weekend and the traffic in our area will be crazy, so just take your time and enjoy the ride if you have to get somewhere, especially in the area close to the Walleye Festival near downtown Port Clinton. Also, remember what this weekend is REALLY all about. It is about honoring the memories of those who gave the ultimate sacrifice in defense of freedom. Port Clinton’s Memorial Day services begin at 9 a.m. at Port Clinton Yacht Club to honor those who lost their lives at sea. At 10 a.m. the Memorial Day Parade will form at the Middle School and proceed to the newly refurbished Veterans Park on Monroe Street. Lt. Col. Barbara Herrington-Clemens, Garrison Commander at the Camp Perry Training Center, will give the principal address.

The Knoll Crest Shopping Center parking lot will be the site for a very special event this Saturday, May 19. It is a Rally for Kids in support of CASA — Court Appointed Special Advocates — and Joyful Connections. There will be gobs of activities for young and old alike. All of the activities for the kids will be free. The Ottawa County Sheriff’s office will be there for child fingerprinting. There will also be a 5K run/walk, a Cornhole Tournament, a sidewalk sale with 20 vendors, basket raffles, food and a Grocery Run Raffle for a 3-minute shopping spree at Bassett’s Market. So, make it a point to stop by and join in the fun this Saturday.

One of Port Clinton’s top success stories is the Conestoga Neighborhood on the City’s east end. Since the neighbors joined together to make that part of Port Clinton a better place, crime rates and police calls have dropped dramatically. The first meeting/potluck of the year for the group will be from 5:30 to 7 p.m. tonight (Thursday, May 10). The meeting will be held at the Lakeview Park shelter house. Mayor Vince Leone will be the featured speaker and Charlene Watkins from WSOS will also be on hand to discuss the Chip Program.

If you’re a mother, you’ll probably get some nice cards and flowers on Mother’s Day. But of course, your greatest gifts are your children themselves. And since you want to see them happy and financially secure, perhaps you can use this Mother’s Day as an opportunity to consider ways to help your children at various stages of their lives.
So, let’s take a look at steps you can take: