'94: As some of may know, I have been working with several people on determining the best way to establish a fund for Matt Bancroft's daughter, Maddie. After much discussion and info gathering, we have decided to establish a 529 plan for Maddie's benefit. In a nutshell, a 529 plan allows anyone who wishes to contribute to a tax-free account for the future benefit of a minor beneficiary (in this case, Maddie) A close friend of the Bancrofts spoke to Mary Ellen and she was comfortable with the arrangements in place to provide for her sons' educations. Additionally, the America West employees establlished a UGMA account for Maddie's benefit which allows Mary Ellen to access the funds if she needs them for Maddie's care; it is not tied to college costs.
The account will be opened in approximately 7 days and I will post the information here on how to contribute. Mike Balow has volunteered to serve as the account participant, meaning simply that he and I will be responsible for the paperwork required and will not burden Mary Ellen with it. However, the monies will be totally designated for Maddie's future college needs. I will also be working with Jim Keck to have the alumni association put the information in Shipmate and on their website in the hopes that other alumni will also contribute.If you have any questions, please contact me via any of the means below. Sincerely,
Michael Graham
(806)786-3407
mikeygraham71@hotmail.com
www.gpgrahamcapital.com
www.alliancecapital.com (we will be using their 529 plan, the College Bound Fund) |