Parent Assets
What are considered Parent Assets?
| Yes – Assessed as Assets | No – Not Assessed as Assets |
| 529s | 401(k) |
| Bonds | 403(b) |
| Bank Accounts (Cash, Checking, Saving Accounts) | Annuities |
| Certificate of Deposits (CDs) | Individual retirement account (IRA) and Roth IRA (good for college investment: Not Assessed; Earning grow Tax Free; Early withdraw of the contribution part Tax Free; Withdraw of contribution for non-college is Tax Free; Each parent can contribute up to $5500/yr) |
| Business assets and farms (starting 2024) | Cash Value Life Insurance |
| Investment Properties – Real Estate such as 2nd home, vacation home, rental properties other than your Primary Resident | Pension |
| Land Sale Contracts | Personal Property (Jewelry, car, RV, boat, household items, etc) |
| Money Market Funds, Mutual Funds | Primary Resident Home Equity |
| Stocks, Securities | Siblings’ Assets |
| UGMA/UTMAs & Trust fund accounts | Trust income and assets do not have to be reported when they are restricted by court order for a certain purpose |