And your “financial advisor” would help with investing decisions about those Roth IRAs — now and after you’re gone? (And make some nice commissions??!!)
And if you die, and the grandchildren inherit those IRAs, did he mention it would severely impact their eligibility for additional financial aid??
And if you die, and the grandchildren inherit as minors, did he mention the court would likely name a conservator for the money (since you didn’t leave it to your adult children)?
And if you die, and your grandchildren are over age 18, did he mention they can do whatever they want with the money — maybe a fast car instead of college tuition??
Did your “financial advisor” bring up all those issues? If not, get a new financial advisor!!
And open a 529 in Illinois Bright Start plan.