Stranded students rescued by Brown County cooperation 4-H Teen Ambassador Dunning attends SHOT Show Veterans Service Commission invites veterans to seek help with benefits Unemployment rate rises in Brown County Pick a Lollipop, help a dog A season to remember G-Men hit the field for first baseball scrimmage Eastern’s Rigdon, Purdy earn AP SE District Div. III honors New blocking, kicking rules address risk minimization in high school football Judy A Schneider James M Darnell Lawanda R Truesdell Paul E Grisham Arrelous R Rowland Dennis E Stivers David M Daniels Fayetteville man is charged with child porn April 1st Grand Opening for Jacob’s Ladder Resale Boutique in Georgetown Talent Show auditions at Gaslight Theatre Nine indicted by county grand jury Vietnam Veteran’s Memorial Wall visit coming next May to BC Fairgrounds In it to win it! Bronco wrestlers end season on successful note Eastern’s Hopkins finishes 5th in long jump at OATCCC State Indoor Track and Field Meet SBAAC awards academic all-stars, winning teams Marvin D Atkin Beverly S Flatt Jessie M Sanders Leroy Deck Sr Jody A Towler Sherman E Young Kenneth C Burton Varnau’s face second defamation suit Attorney General to visit Georgetown schools Clermont County GOP hosts Wenstrup, DeWine at dinner Fatal car crash in Adams County BC Chamber welcomes new Cricket Wireless store to Mt. Orab Aberdeen Council approves 2017 budget Royce K Zimmerman Lady Warriors advance to Elite 8 SBAAC awards boys basketball all-stars SBAAC girls basketball all-stars take home awards SHAC Winter Sports Awards Banquet set for March 12 Altman claims 170-pound district title Sirkka L Buller Arthur C Schneider Lowell G Neal Virginia M Schirmer Connie S Darling Harold L Purdin Terry E Frye Lucille Schumacher Lady Warriors roll to district finals Broncos take care of business to claim sectional crown G-Men upset MVCA to earn berth sectional finals WBHS JROTC Rifle Team competes at Camp Perry Lady Rockets finish 12-12 Season reaches end for Rockets Eugene D Ring Two indicted on major drug charges Two charged with home invasion Cincinnati airport expanding services, lowering prices in effort to compete Two sentenced in common pleas court Georgetown man hurt in car crash Robert G Miller Linda M Howland Robert E McKinney Mildred J Hodges Farrel L Amiott Patricia Brown Rick L Dye Mary E Nagel Betty Ratliff Broncos claim SBAAC wrestling title Broncos pull ahead for win over G-Men in SBAAC Tourney Ripley boys wrap up regular season with win at Lynchburg Eastern girls are sectional champs Anderson pleads not guilty to battery charge Some county offices to change locations Fayetteville prepares for Traveling Vietnam Memorial Wall HealthSource hosts Chamber of Commerce meeting Five sentenced in Brown County Common Pleas Court June Howser Marguerite A Fender Timothy D Harris Jay R Purdy Robin S Godwin Marc A Wachter Chester W Eyre Warriors blast past the G-Men, 61-40 Rockets performing well heading into post-season tournament play Lady Warriors bring home the Gold with perfect 13-0 finish in SHAC Western Brown Junior High wrestling team wraps up successful season Rockets fall victim to ‘Pack’ attack Broncos suffer heartbreaking loss to Mentor Lake Catholic in state quarterfinals Adult Education Center coming to county ‘Senior Playground’ moving forward at Georgetown park Brown County 4-H kicks off another year Eastern Middle School celebrates “Kindness Week” Billie L Shoemaker

Celebrate Father’s Day by investing

Father’s Day is almost here. If you’re a father, especially one with young children, get ready to add to your collection of homemade cards, ties, golf tees or other such gifts designed to please you. Your greatest gift, of course, is your children — and you would doubtlessly get great satisfaction from knowing that you’ve provided them with financial resources that can benefit their lives in many ways. So, why not use this Father’s Day as a starting point for investing in your children’s futures?

Here are a few methods for doing just that:

UGMA/UTMA — If you would like to buy and sell securities for the benefit of a child, you may consider opening a custodial account known as either an UTMA (Uniform Transfers to Minors) or UGMA (Uniform Gifts to Minors) account. You would serve as the custodian for this account, giving you control of it until your child turns either 18 or 21 (depending on your state of residence), at which point he or she would take over ownership. Investment income from an UGMA/UTMA account can receive favorable tax treatment. As long as the child is under age 19 (or under age 24 and a full-time student) and does not have earned income providing more than half of his or her support, the first $1,050 of investment income is tax-free, and the next $1,050 will be taxed at the child’s tax rate, which is typically 10%. Investment income above $2,100 will be taxed at the parent’s tax rate.

Roth IRA — Even young children can contribute to a Roth IRA, as long as they have some type of earned income from babysitting, mowing lawns or any other type of employment. Your children can fund a Roth IRA and choose from several different types of investments — stocks, bonds, government securities, and so on — and withdrawals of contributions are tax-free. Roth IRA earnings are also tax-free, providing the investor is at least 59½ and has had the account for at least five years. A Roth IRA can be used to help provide retirement income for your children, but it also offers penalty-free withdrawals of earnings when the money is used for a first-time purchase of a home.

529 Plans — If you would like to give your child the gift of education , earnings in a 529 college savings plan accumulate and are distributed tax free, provided they are used for qualified higher education expenses. (529 plan distributions not used for qualified expenses may be subject to federal and state income tax and a 10% IRS penalty on the earnings.) Another benefit to 529 plan contributions is that they may be deductible from your state taxes. However, 529 plans vary, so be sure to check with your tax advisor regarding deductibility. A 529 plan offers other benefits, too. For one thing, the lifetime contribution limits are generous; while these limits vary by state, some plans allow contributions well in excess of $200,000. And a 529 plan is flexible: If your child decides against college or vocational school, you can transfer the unused funds to another family member tax and penalty free.

Living and Testamentary Trusts — If you would like to leave a financial legacy for your children, and even their children, but still maintain some control over when they receive the money and how they can use it, you might consider speaking with an estate-planning attorney about establishing a trust. Some individuals create a trust to offer long-term support to heirs or charities after death, whether for several decades or several generations. Before you decide on any of these plans, consult with your tax and financial professionals to make sure the arrangement you’ve selected is suitable for your needs.

But however you choose to help your children, your generosity will make all the Father’s Days to come even more meaningful for you — so consider taking action soon.

Jim Holden is a local Edward Jones Financial Advisor. Edward Jones, its employees and financial advisors are not estate planners and cannot provide tax or legal advice. You should consult your estate-planning attorney or qualified tax advisor regarding your situation.

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