Education Asset on an Asset-Map
To open a discussion of education funding, adding an asset representing the education vehicle on an Asset-Map is a best practice.
Ensure a dependent member is on the map (Actions menu, add Member).
Add an Asset (Actions menu, add Asset)
Assign the Interested member to the dependent on the Essentials tab.
Complete the Essentials page.
On the Details page, assign grantor/custodian to a parent (typically).
This will apply two tiles on the map: a white tile assigned to the dependent and a yellow tile indicating that the asset is controlled (or managed) by another. This does not double-count the asset on the balance sheet.
Use the Account Type field on the Details tab of the asset on the Asset-Map. Select "529" from the list to inherit the desired default Target-Map™ Preferences tax percentage.
Run a Target-Map
Definition: The Dependent Education Template attempts to pre-fill standard funding requirements for a dependent’s education need based on the financial professional's preferences.
Default Preferences: The Dependent Education funding preferences supplies the starting point for the following funding requirement. We call funding requirements: "What you want".
Dependent Education Expenses
Most Helpful Tips:
The template assumes the event starts at age 18 (Duration of Contributions field) and lasts for 4 years.
The selection box for this Target-Map only displays members designated as "Dependent".
This Target-Map template uses hard-coded values that can be refined to suit the needs of the client.
Each requirement can be individually edited on the "What you want" page.
Don't settle for our default descriptions. Rename line item descriptions as desired by clicking either the Edit link or Description link.
Add more requirements using the Add Desired Cash Flow button on the "What you want" page.
Use the Start Age field only to define a one-time funding requirement at a certain age/date (leave the end age blank) on the "What you want" page.
Target-Maps recognize the financials relevant to the event and apply them to help fund the need. Additional funding may be applied by the advisor on the "What you have" page.
Double-check COLA, Start and End ages, and Loss to Tax values. Ensure they are aligned with the funding requirements and edit as needed.
New asset financials added to the Asset-Map will appear on a Target-Map's "What you have" page, but will not be applied to fund the need until the associated check box is checked.
By design, Target-Maps are independent from one another. Funding used by one Target-Map is not automatically removed from other Target-Maps.
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4/2025