Woodlands Living, Fall 2013

7/29/2019 Woodlands Living, Fall 2013

1/14

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Qua r t e r l y

Homeowne rs

As s oc i a t i o n

News l e t t e r Woodlands LivingWoodlands Living

From the Board of Directors

The Woodlands continues to undergo change. Were happy to say that this change is for the better,

and is intended to bring about greater enjoyment and value for the members of our community. Since

the last newsletter, our on-site Property Manager, Danielle Maggio has been promoted by Heritage; and

by the time this newsletter reaches your mailbox, Danielle will have transitioned her role to Teresa Kis-

sell. Just as Danielle was an immediate asset to the community, Teresa comes with years of experi-

ence, and the right kind of enthusiasm to ensure that the property management office continues to func-

tion optimally.

In addition to this change, the Board of Directors has appointed a new Board member, David J. Kirklen.

David was selected from a number of interested homeowners to fill the seat vacated by Devin Shepardin April 2013. David will serve as Secretary for the remainder of Devins term, which expires at the end

of this year. David has already made an immediate impact, with a level-headed and calm perspective,

and we appreciate his interest in serving the community.

As you can see on this first page, the newsletter has undergone a facelift. In reimagining the newslet-

ter, we invite greater participation of homeowners to ensure that this is a publication with you in mind.

Finally, the Board of Directors continues to make needed and responsible investments in the communi-

ty. We will finish this year by raising the quality of the Nature Trail to a safe and enjoyable level with

new platforms and bridges, and clean-up along the paths. Also, we have finished a job we started last

year, and purchased two new attractive permanent umbrella shades for installation at the small pool.

Best,

David, Michael, DJ, and Kellie

I s sue

Oc t /Nov /Dec

2013

23

In this issue:

1 Introduction

3 Board Updates

4 Committee Reports

5 Property Improvement

6 You Should Know

7 Event Calendar

8 Taste of Woodlands

8 Kidz Stuff

9 Your Submissions

10 Summer Pictures

11 Wave Recap


2/14

Welcome Teresa!

The Woodlands Board of Directors would like to welcome Teresa Kissell to the community.

Teresa comes to us with several years of industry experience with Heritage; having managed

multiple diverse accounts as a Portfolio Manager. Teresa was selected by the Board of Direc-

tors after meeting with potential candidates. A priority to us was that the candidate be an exist-

ing and proven Heritage employee to ensure familiarity with Heritages way of operating. Tere-

sa has a winning personality and a good customer service focus, and we think you will be as

pleased with her as we on the Board were. Welcome, Teresa.

Im excited about this wonderful opportunity and look forward

to working with the Board and homeowners. Ive lived in Geor-

gia since 1997 and hail from Texas and South Florida. Im

married and have four kids (all boys!) and four dogs!

Ive been with Heritage Property Management 4 years, and

have been a community manager for almost 4 years. Ive been

predominantly a Portfolio Manager where I managed multiple

properties. Im looking forward to being able to focus my time

and energies on your community as I feel my experience with

multiple and different type properties will be a benefit.

Thanks, Danielle

The Woodlands Board of Directors would like to thank Danielle Maggio, and recognize her

many contributions to The Woodlands. Danielle has been with The Woodlands since the major

turning-point of our transition from CCM to Heritage Property Management, approximately one-

year ago. In this relatively short amount of time, Danielle has brought order and professional-

ism to the property management office; assisted the Board in identifying and implementing

changes to contracts, insurance policies, and agreements that have saved thousands of dol-lars and mitigated risk for the association; executed day-to-day business and coordinated stra-

tegic projects for the betterment of the community; and handled many matters relevant to the

financial health of the association, such as collection of delinquent homeowner accounts, driv-

ing homeowner delinquencies from as high as 22% to a currently all-time low 6%; and crucial

to the vitality of the neighborhood, like follow-up and correction of egregious property viola-

tions.

We are equally pleased that as part of Danielles new role as Division Manager On-Site

Managers for Heritage, Danielle will retain The Woodlands as one of her key accounts. This

means that Danielle will be leaving The Woodlands in the capacity that you have come to knowher in; but she will remain involved with the community as she will retain The Woodlands within

her portfolio of properties that she is responsible for.

Board of Directors

David Fortin, President

Michael Espriella, Vice President

Vacant, Treasurer

David J. Kirklen, Secretary

Kellie Simpson, Director

Committee Chairs

Architectural Committee

Kellie Simpson,Acting Chair

Newsletter Editor

Justin Ismach, Editor

Social Committee

Laura McQuillan, Co-Chair

Stacey Garbow, Co-Chair

Sports CommitteeTodd Black, Tennis Liaison

Heather Castle, Woodlands Wave

Were onlinewww.woodstockwoodlands.com

Find us on Facebook

facebook.comTheWoodlandsHOA

Woodlands Homeowners Assoc.

800 Woodlands Pkwy

Woodstock, GA 30188

phone (678) 445-2441

fax (678) 445-2910

Community Managed by:

Heritage Property Management Services, Inc.

500 Sugar Mill Road Building B, Ste. 200

Atlanta, GA 30350

On-site Property Manager

Teresa Kissell

[email protected]


3/14

It occurred to me while preparing material for this issue that it was

a little over 10-years ago that my family moved into The Wood-

lands. We were one of the first residents in a stunning new neigh-

borhood, and everything had that new neighborhood smell. 10-

years seems to have flown by in the blink of an eye, and The

Woodlands continues to be a premier community in Woodstock to

live and play, even winning the My Woodstock Monthlyaward this

year forBest Subdivision. We have a wonderful community and

an enviable property, with impressive amenities. It has been the

Boards priority to protect and enhance this to ensure that our

neighborhood grows in this regard; as opposed to what some

neighborhoods do, which is to become stagnant and decline. We

have a strong financial balance sheet, and continue to maintain

and invest in features that will make The Woodlands attractive to

current and future homeowners. Increasing home value benefits

everyone in the community! We have an active and growing

social community, and we are exploring programs to improve this

as well. Please share your thoughts. We listen and would love

for you to be part of the change in this great community.

Happy Birthday, Woodlands!

Total funds = $783k, decrease of $35.3k from Q2-2013 equivalent

to period operating expenses. YTD operating expenses are

$34.6k over budget. Primary drivers are seasonal expenses

which will tail off in the Fall and we expect the budget to come

back to target. YTD capital expenditures and projects are on tar-

get with actual and planned expenses within $100 of each other.

Capital project expenses not yet billed for or completed include

completion of the Nature Trail improvements, and installation of

the umbrella shades at the Views Pool, which should finish the

year at or under budget.

We have received $597.9k in assessment payments (HOA dues)

or about 80% of the budgeted 2013 dues. Overall collection ef-

forts have resulted in great success in the collection of long delin-

quent accounts. By count of households, the number of delin-

quencies has dropped from as high as 22% at the start of the

year, to an all-time low of 6%, or approx. 65 households. The

outstanding amount is significant, but the efforts to collect are

yielding positive results and getting the funds where they need to

be.

Funding of the capital reserves is on target, with a total of $107.9k

contributed towards the annual $185k total.

Thank you for sprucing up! A special thanks goes out to each

and every homeowner that has responded positively to the ACC

reminders for lawn maintenance and home repairs, and a BIG

thank you to all who initiated their own home repairs. Proper up-

keep of our homes is what keeps our property values up and what

makes our community such an attractive place to live.

As homeowners you have a direct impact. Everyone needs to do

their part to maintain the appearance, and thus protect the value,

of this property. Keep shrubs trimmed, lawn areas neat, and gar-

dens maintained. Store items out of sight, refresh the paint. Keep

yards free of clutter, pick up stray trash, and take a moment to call

the post office and newspaper when you are away. Help your

neighbors and continue to take pride in our community.

Did you know The Woodlands Covenants require sanitation

cans to be located in the garage or screened in area so as to be

concealed from view or neighboring properties and streets. Please

make sure that the placement of your sanitation cans adhere to

the requirement of the Covenants. Also note: sanitation cans

should be placed at the curb no earlier than dusk the day before

scheduled collection and removed from the curb by late evening

on the same day of collection. Garbage day is Wednesday,

Please contact the Property Manager with any concerns/

recommendations/questions through the e-mail address below:

Teresa Kissell, Property Manager

[email protected]

MessagesFromTheBoard


4/14

Fall is the perfect time to take care of the little things that can

make a big difference for you and your home.

Get your mind in the gutters. Inspect and clean gutters and

downspouts. Button up your overcoat. Seal gaps and cracks around win-

dows and doors with weather-stripping and caulk. Get on top of roof problems. Inspect your roof for damaged or

curled shingles, corroded flashing, or leaky vents. Walk the walks (and drives). Take steps to repair damaged

sidewalks, driveways, and steps.

Chill out. Drain and winterize outdoor faucets and irrigation

systems. Freshen your filter. Clean or replace dirty furnace filters.

Give your furnace a physical. Have a professional inspect

your heating system. Keep your family safe at home. A home safety check should

be an annual ritual in every household. Test smoke and CO

monitors, inspect (or install) fire extinguishers, review fire

escape plans, and rid your home of old newspapers and oth-

er fire hazards.

The Woodlands Social Committee has provided many fun pro-

grams and events for Woodlands residents. There has been agreat turnout for events at the pool, and Finding Nemo at Dive-In

Movie night was a great success. It has been wonderful to see so

many new faces at these events, and we hope that this continues

throughout the rest of the year. The Fall looks to be just as enjoy-

able, with a number of events taking place at the Woodlands

Park. Check the Social Calendar for details on Oktoberfest/Fall

Festival, a business expo, Camp-out in the Park, Neighborhood

Chili Cook-off, and around Christmastime Santa will be making an

appearance at the clubhouse.

Events like these are not possible without neighborhood volun-

teers to dream-up, organize and manage the events. If you wouldlike to be involved, take responsibility for an event, or simply to

just lend a helping hand to say thanks to the people that give up

their time to bring fun activities to the community, please contact

Stacey and Laura at [email protected].

CommieeReports

The Woodlands is in need of volunteers for all of our committees.

If you would like to volunteer for one of our committees, please

look at the Committees web pages to learn more about these

committees. There is also a committee charter for each of our

committees that will also help in determining what is needed or

expected. If you are unable to join a committee, but would like to

help out with projects, please let us know what skills or type of

projects that you would like to volunteer. Volunteering for our

committees helps to keep our dues down as well as to foster good

neighbors and develop friendships. If you are new to The Wood-

lands this will help you get to know your neighbors better. Please

contact our property management office for more information.


5/14

Pool Umbrellas

Last year The Woodlands HOA invested in five perma-

nently affixed umbrellas for the Main Pool. The financial

basis for this was based on the replacement cost for the

moveable ones over a 10-year period. Since this was

funded from Capital monies, there was basically no drain

on operating expenses or the Capital funds over the

same time period. The umbrellas have been very well

received, and many visiting swim teams and guests

have made positive comments concerning the umbrel-

las. The Board of Directors voted to install two (2) 18'

umbrellas at the Views Pool at a cost of approx. $6,000

installed. This will entirely eliminate replacement costs

for smaller, breakable umbrellas; and enhance the im-pressive appearance of our neighborhood, improving

overall value to the community. We decided to make this

investment in the off-season, when prices on these units

were reduced, therefore these umbrellas will be installed

at the end of September and will be available to enjoy in

the 2014 pool season.

Nature Trail Improvements

Historically, the budget for the maintenance of the Na-

ture Trails has been modest, and set at approx. $1,000

annually. Use and Mother Nature, as well as unauthor-

ized use by wheeled motor vehicles, has deteriorated

the condition of the trails over the years, and the annual

budget is insufficient to maintain the amenity and make it

enjoyable. Last month the Board of Directors authorized

approx. $7,000 for additional improvements to repair a

handful of key problem areas, and to establish a condi-

tion that makes the trails useable, and enjoyable to all,

and we hope maintainable for the normal annual budget.

Please take a walk on the Nature Trails and enjoy a new

70'-0" extension on the walkway on the Brendylynn

Trace stair access; as well as a 20'-0" bridge over a

stream to the East of the Tennis Courts several hundred

yards down this same trail. Our intention is to improve

and maintain this key amenity to ensure that it is as ac-

cessible and enjoyable as it was originally envisioned.

SupplierrenderingofpoolumbrellasatViewsPool

NewbridgeovermarshystreamonNatureTrail

PropertyImprovementProjects


6/14

New Look

The Woodlands newsletter has undergone an identity change.

Youll notice that, among other things, the newsletter now has a

new name, Woodlands Living; aptly named, because one of the

main appeals ofliving in a community such as ours is to cultivatean inviting, friendly atmosphereand the new newsletter mission

will be to reflect that in the information that we share, and the con-

tent that we publish.

The updated layout and format of the newsletter has also been

revised. We will rotate color themes and banner photographs to

reflect current events, seasonal transitions, and goings on in The

Woodlands. This first issue features a banner photo taken by

Board member, Michael Espriella of the monument at the en-

trance of the neighborhood In future months we could use pic-

tures of the pool, a tennis match, wildlife on the Nature Trails,

your own friends & neighbors enjoying The Woodlands. Would

you like your photo featured with photo credit? Get your cameras

and Smartphones out, take your own pictures, post them to Face-

book or submit to the property manager, and we will pick the best

one to represent an upcoming issue.

Finally, this is your news. You are encouraged to contribute to it.

The Board will use it to communicate in an easy to understand

way on things that you need to know about HOA activities; but its

important to have homeowner submissions. Submit a recipe, a

craft, a tip or trick. Wed love to hear from you, and others would

as well.

We hope you enjoy the new look, and please give us feedback!

Know Your Neighborhood

What do my annual dues pay for?

The Associations income consists mostly of Fees in the form

of Dues, or an annual assessment. These dues are used to

offset normal operating expenses, such as landscaping

maintenance, insurance, power, management, pool manage-

ment, taxes, repairs etc. In addition to this, we contribute a

portion of the dues to a reserve fund to ensure that money is

available for planned capital expenses, like replacement of the

clubhouse roof, repaving a parking lot, clean-up of the deten-

tion ponds, etc. If you would like to have a copy of your budg-

et, please contact Teresa, or point your browser to

www.woodstockwoodlands.com Community Information

Property Information 2013 Budget

Facebook

The Woodlands is on Facebook. The mission of

our page is to promote good will and cultivate a

sense of community in the Woodlands. Visit us

here, and Like Us in order to stay up-to-date on

community events, happenings around the neigh-

borhood, great photos and submissions from your

friends and neighbors, and discussion on every-

thing Woodlands. Visit us here:

http://www.facebook.com/TheWoodlandsHOA

Website

The new Woodlands website, at www.woodstockwoodlands.com has been

live for 1-year now. While the launch of the site was not without technical

glitches, all logon issues have been resolved and the system is running as it

should. At last count, we still have only 50% of the current homeowners reg-

istered. This means that you cannot take advantage of the new features that

make interacting with the HOA simpler, like online account management,

common area maintenance request, access to all community documents and

newsletters, etc. And with the end of the year not far away, youll want to be

signed up to make your annual assessment payment online. Save a stamp!

If you need help getting logged on, please contact Teresa at (678) 445-2441.

InCaseYouWondered...


7/14

October 2013Sun Mon Tue Wed Thu Fri Sat

1 2 3 4 5

6 7 8 9 10 11 12

13 14 15 16 17 18 19

20 21 22 23 24 25 26

27 28 29 30 31

November 2013

Sun Mon Tue Wed Thu Fri Sat

1 2

3 4 5 6 7 8 9

10 11 12 13 14 15 16

17 18 19 20 21 22 23

24 25 26 27 28 29 30

December 2013

Sun Mon Tue Wed Thu Fri Sat

1 2 3 4 5 6 7

8 9 10 11 12 13 14

15 16 17 18 19 20 21

22 23 24 25 26 27 28

29 30 31

Oct5Oktoberfest/FallFesval

Oct1112CommunityGarageSale

Oct19CampoutinWoodlandsPark

Oct28HOAMeeng,7pm

Oct31Halloween

Nov3DaylightSavingTimeends

Nov5EleconDay

Nov.9Chili

Cook

Off(Clubhouse)

Nov25HOAMeeng,7pm

Nov28Thanksgiving(US)

Dec14HolidayFestwithSanta

Dec24ChristmasEve(US)

Dec25ChristmasDay(US)

Dec31NewYearsEve

CommunityCalendar

Oct5Oktoberfest/FallFesval

Oct1112CommunityGarageSale

Oct19CampoutinWoodlandsPark

Oct28HOAMeeng,7pm

Oct31Halloween


8/14

RiceKrispyTreatSushi

Ingredie

nts

3tablespoo

nsbutterormargarine

4cupsminiaturemarshmallows

6cupsRice

Krispiescereal

36gummyworms

48stripsfru

itleather

Directions

1.

Inlargesaucepanmeltbutteroverlowheat.Addmarshmal-

lowsandstiruntilcompletelymelted

.Removefromh

eat.

2.

AddRiceKrispiescereal.Stiruntilw

ellcoated.

3.

Usingbutteredspatulaorwaxpape

revenlypressmixture

into15x10x1-inchpancoatedwithcookingspray.

Cool.

4.

Invertpanoncuttingboardtoremovecerealmixture.

Lengthwisecutintotwo10x5-inch

rectangles.

Crosswise

cuteachrectangleintosix5x21/2-inchrectangles.

Place3

gummywormsontopofeachpiece

.Startingwithlongsides,

tightlyrollup,completelyenclosing

gummyworms.

Cross-

wise,cuteachrollintofour11/4-inc

h

RoastedSweetPotatoFries

Ingredients

2largeswe

etpotatoes,peeled

1/4cupfreshlysqueezedorangejuice

1tablespoo

nvegetableoil,plus2teaspoons

Koshersalt

andfreshlygroundblackpepper

1/2teaspoo

ngroundginger

1/4teaspoo

ncayennepepper,ortotaste

Directions

1.

Preheattheovento450degreesF.

2.

Cutthesweetpotatoesinto1/2-inch

squaredstrips(fry

shape)andputthemi

ntoalargebo

wl.

3.

Inasmallsaucepan,combinetheo

rangejuice,

1table-

spoonofoil,saltandpepper,totaste,

thegroundgingerand

cayennepepper.Simmerfor2to3

minutes,whiskinguntil

reducedtoathickconsistency.

Rem

ovefromt

heheat,pour

overthesweetpotatoesandtossto

coat.

4.

Rub2teaspoonsofremainingvege

tableoilonarimmed

nonstickbakingsheetoruseasiliconelinerandomitoil.

Arrangethesweetpotatostripsonthepreparedbaking

sheetandbakeuntilbrown,about2

5minutes,

turningafter

about10to12minutes.

Removethebakingsheetfromt

he

ovenandtransferthepotatoestoa

servingdish.

Eatand

enjoy!

1.

Woodlands Hanging Leaves

When dipped in wax, colorful leaves found on the Woodlands

Nature Trails can be preserved through this season and beyond.

We clustered a group to suspend in a window -- perfect for greet-

ing visitors. Stands of monofilament keep them from falling a

second time.

Materials

Colorful leaves

Bleached beeswax

Double boiler

Monofilament

Clothespins

Directions

1. Slowly melt bleached beeswax over a double boiler; never

allow wax to boil. Dip leaves in wax one at a time, holding by

stem. gently shake off excess wax.

2. Hang leaves on clothespins to dry. Some may be dipped

again, depending on desired look; let dry between coatings.

Hang finished leaves from lengths of monofilament.

Taste of The Woodlands KIDZ STUFF


9/14

Pay Special Attention to the Trees This Fall

Can you feel that little coolness in the morning, have you noticed

the tops of some of those maples changing colors? These are all

key signs that fall is upon us. As we go into Autumn, your trees

are, in my opinion, so much more than leaf makers. The question

of trees has been brought up several times by homeowners. Any

tree within our community is what we make it. Many times trees

get a bad rap for having surface roots, invasive roots, or shading

out the turf in front of your home. Being in the landscape profes-

sion we see and deal with all types of trees. Some trees make our

job difficult with root problems and the amount of shade they pro-

duce. No question that trees do belong in the landscape.

In the early 2000s housing market boom, many large fast-growing

trees were installed in close proximity to new homes, so homes

would sell better. Now 10+ years later these same trees have

outgrown their space in which they were first intended, and that

isnt a problem as long as we as homeowners and landscapers

are willing to work with these trees. Fall is a great time to prune

your tree up, meaning you should have a good 10-12 foot clear-

ance from the ground to lowest branches. This pruning will allow

more sunlight in to the ground to give your turf below a fighting

chance. I try not to encourage homeowners to cut down trees, but

sometimes that is a last resort. When surface roots begin break-

ing sidewalks or invading plumbing or even interfering with foun-

dation integrity, then trees should be cut down. Often times the

question of root pruning comes up, and to be honest this is not a

good solution, only prolonging the inevitable of roots invading.

With that being said, if a tree is indeed cut down, I do strongly

recommend replacing it with another tree.

Perhaps a tree with a slower growth cycle like the Gingko Biloba.

Trees are great, they add a lot to our landscape, but being in the

right spot means everything. So this fall when the leaves begin to

change, just remember that this is the best time of year to plant a

tree.

IT Corner

Is your computer running slowly? Does your it crash often? If so,

your it may be due for an upgrade. Dont panic , there is still hope;

each computer contains RAM (Random Access Memory) which is

used to temporarily place items while either transferring them or

just simply using them, instead of placing items back and forth to

your hard drive, your RAM does that work for you, a lot faster.

Most computers being manufactured after 2010 should contain at

least 1gb of RAM unless you have a net book or tablet. Depend-

ing on what you are using your computer for, different RAM sizes

are needed. For example, if you are using your computer just for

browsing the web, 1gb of RAM will be plenty, but if you are gam-

ing, your PC may require more than 8gb of RAM. 4gb of RAM is

sufficient for most normal use such as, browsing the web, playing

simple games such as solitaire or pinball and/or writing word doc-

uments. Unfortunately, each computer can only contain a max

amount of RAM, if your computer can only contain a maximum of

1gb or less, you are probably due for a new computer. To check

how much RAM your computer can have and what type to buy,

simply go to http://www.crucial.com. Note that each computer

takes different types of RAM depending on age or type of comput-

er such as DDR, DDR2 or DDR3.

YourSubmissions

Kirk Smith is co-owner of Lawnsmith, landscape con-

tractor for The Woodlands. 678-445-4283.

[email protected] or [email protected]

Justin Ismach is a Woodlands resident, and overall

smart guy


10/14

AroundTheWoodlandsThisSummer


11/14

The 2013 Woodlands Wave swim season didnt really go as planned this

year. Our parents, kids, and coaches endured Mother Nature, including

cold, wind, rain and thunderstorms, and even a tornado. Meets were de-

layed, or even cancelled. It was a disappointment for everyone, but we are

optimistic that next Summer will be nothing like this past one.

This year the CSSA (Cherokee County Swim Association), shuffled the

schedule, teams, and divisions. Our team ended up in the highest division

and swam against teams who were well established and had older swim-

mers. Our younger kids all the way up to our 14-year olds, did some awe-

some and held their own in events. We had numerous best times and kids

that improved tremendously. The Wave ended up 0-4, with the last meet

very close (only down by 15), but ultimately cancelled due to weather.

The Wave would like to recognize the District and State swimmers this

Summer. Competing in the District Swim Meet were Brock Edwards, Madi-

son Logan, Makenna Logan, Bridger Putzer, Josh Butler, Ashley Fortin,

Payton Smith, Tavyn Smith, Scott Rutherford, Jackson Rutherford, and

Carson Portis. The swimmers that placed in the top 2 of their individual

event or with their relay team moved on to state. Those swimmers were

Brock Edwards (Free Relay), Ashley Fortin (Medley Relay), Madison Lo-

gan (Medley Relay and IM, placed 27th in the State), Makenna Logan

(Free Relay), Payton Smith (50 yard fly, placed 13th in the state), and

Josh Butler (50 yard back, placed 2nd in the State). Congratulations!

The Wave had fun and showed their spirit every day. Thank you to all the

swimmers, parents, grandparents, and extended family members for sup-

porting the Wave! See everyone in 2014 at the pool!

Woodlands WaveWoodlands Wave

Heather Castle is a Woodlands resident and the Woodlands

Wave Swim Team Coordinator


12/14

Time To Boost Your College Savings

Do you have school-age children? If so, the start of the school

year means that your kids are now one year closer to college.

That means you have even more incentive to launch a college

savings strategy which is essential these days.

During a tough economy, states are scrambling to meet budget

shortfalls. As a result, state legislatures may be forced to scale

back their support to public colleges and universities, which in turn

may raise their tuition. Furthermore, college endowments have

been hit hard by the financial crisis; from July through November

2008, endowments suffered more than $94 billion in investment

losses, according to a survey by the National Association of Col-

lege and University Business Officers and Commonfund Inc. Pri-

vate colleges and universities, which are especially dependent on

endowment income, are slashing budgets and warning that con-

tinued endowment declines could lead to financial aid cutbacks.

Obviously, you can't control the economy, state legislators ac-

tions or the fortunes of endowment funds. But here are some

things you can do to help prepare yourself for those future college

bills:

Contribute to a Section 529 savings plan. In a 529 plan, you in-

vest money in specific securities, managed by professionals. Con-tribution limits are high, and all withdrawals are free from federal

income taxes, as long as the money is used for qualified higher

education expenses. Withdrawals for other types of expenses

may be subject to federal and state taxes plus a 10 percent penal-

ty. In addition, contributions are tax-deductible in certain states for

residents who participate in their own states plan. Because tax

issues for 529 plans can be complex, you will want to consult with

your tax advisor. Of course, if you already have a 529 plan, your

savings probably took a pretty big hit last year and in the first few

months of this year, as well. In response to the downturn in the

financial markets, the IRS has ruled that, for 2009 only, 529 plan

account owners can make investment changes twice in the calen-

dar year, rather than just once. This gives you more opportunities

to rebalance your 529 plan investments in a way that could help

reduce the effects of volatility.

Open a Coverdell Education Savings Account. Depending on your

income level, you can contribute up to $2,000 annually to

a Coverdell Education Savings Account (ESA). Your Coverdell

earnings and withdrawals will be tax-free, provided you use the

money for qualified education expenses. (Any non-qualified with-

drawals from a Coverdell ESA may be subject to federal and state

taxes, plus a 10 percent penalty.) You can fund

your Coverdell ESA with virtually any type of investment

stocks, bonds, certificates of deposit, etc.

Open a custodial account. You can place assets in a custodial

account a UGMA or UTMA account for your childs college

education. Although your child will own the account as soon as it

is established, you have control of it until the child reaches the

age of majority, usually 18. At that point, your child can collect the

assets which again can be in the form of almost any type of

investment and use the money for college.

Whichever vehicles you choose to create a college fund, start

soon. In building your savings to meet the high costs of higher

education, time is your greatest ally.

SteveTuckFinancialAdvisor

12050Highway92

Suite136

Woodstock,GA30188

Bus.7709265503Fax8772221465

Cell4042025119

[email protected]

YourSubmissions


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Woodlands Living, Fall 2013