Saving for your children's college is an important part of your overall plan to provide for them. Your estate planning attorney or financial planner can help ensure that the account you choose is the best one for your goals and is well integrated with the rest of your plan.

Here is a comparison of the most popular options. Please keep in mind that these are just the most common factors that parents consider. Whether a particular plan is best for you may depend on aspects not listed here, such as whether your beneficiary has special needs, who's contributing, or disposition on death of donor or beneficiary.

Please call 805-778-0600 for a free 30 minute consultation to learn more about how college savings can fit into your overall estate plan to protect and provide for your children.

The 529 plan is the best choice for most families. It has other advantages not listed in the chart, such as the ability to make 5 years' worth of contributions at one time. However, it's not right for every family.

Consider the Education IRA if you plan to pay for private elementary or secondary education. You can contribute to both an Education IRA and a 529 plan.

The UTMA is appropriate in only rare circumstances. If you already have a UTMA, consider investing it in a 529 plan. Many plans allow this combination.

Other options not listed above are available to achieve specific goals, such as wealth transfer across multiple generations, or protection of a special needs child's eligibility for government assistance.