Chapleau Law Group LLC provides advice and solutions for the legal challenges confronting Section 529 college savings programs and prepaid tuition plans (Section 529 Programs), and Section 529A ABLE programs for eligible persons with disabilities (ABLE Programs).
- We advise on a broad range of issues involving Section 529 Programs and ABLE Programs including securities law, tax law, contracting, regulatory, and other applicable legal requirements. We have the requisite expertise to represent a broad cross-section of the Section 529 and ABLE Program industry, including state sponsors responsible for the development and oversight of the programs, financial services firms in their roles as program managers, and other service providers.
- Our team has assisted program managers, state sponsors, primary distributors, broker-dealers, and investment advisors, and their legal counsel in structuring Section 529 and ABLE Programs under the Internal Revenue Code in a manner that meets applicable securities and tax law requirements. For example, program management agreements, subcontracts, and offering documents need to be customized to comply with a myriad of federal tax and securities statutes, relevant state statues, MSRB rules, and individual state program requirements, as well as to the applicable distribution channel (direct-sold or advisor-sold).
- We have extensive experience in guiding clients through the 529 and ABLE regulatory maze, and in drafting the required disclosures, agreements, and other legal documents required to launch and modify these complicated tax-advantaged investment vehicles.
- Our team also provides advice on the federal securities, tax, and enabling laws and regulations applicable to state sponsors of 529 and ABLE Programs, program managers, investment managers, and broker-dealers participating in the 529 and ABLE marketplaces.
- We also have extensive experience with the drafting and review of Section 529 and ABLE offering documents and marketing materials.
- Our team, working closely with industry groups, constantly monitors, comments, and advises clients on legislative and regulatory initiatives that affect the taxation, operation, and governance of Section 529 and ABLE Programs.
For legal assistance with Section 529 and ABLE Programs please contact us.