Goal-Based Savings Accounts: Build Toward What Matters Most

Independent guidance, direct advisor access, and a full range of investment accounts — from an advisory firm with roots in Chillicothe going back to the early 1970s.

Building The Right Account for Every Goal

529 Plans

We help families set up and manage tax-advantaged education savings accounts so your contributions grow tax-free and withdrawals for qualified expenses — tuition, books, room and board — remain untaxed at the federal level. Whether you're saving for college, a trade school, or even some K–12 costs, we'll help you build a plan that fits your timeline and goals.

UGMA/UTMA Accounts

We can help you transfer financial assets to a minor in a straightforward, custodial structure. These accounts offer flexibility — they're not restricted to education expenses — and can be a meaningful way to give a child or grandchild a financial head start.

ABLE Accounts (Achieving a Better Life Experience)

ABLE accounts are tax-advantaged savings accounts designed for individuals with disabilities and their families. Funds can be used for qualified disability expenses — including education, housing, transportation, and healthcare — without affecting eligibility for most federal benefits. We help eligible individuals and families understand contribution limits, qualified expenses, and how an ABLE account can work alongside other financial planning goals.

Common Questions About Goal-Based Savings Accounts

  • What is a 529 Plan and how can Lockridge Legacy help me set one up?

    A 529 Plan is a tax-advantaged savings account designed to help families save for education expenses. Contributions grow tax-free, and withdrawals used for qualified expenses like tuition, books, and room and board are not taxed at the federal level. We'll walk you through selecting the right plan, setting contribution goals, and adjusting your strategy as your child grows.

  • What is a UGMA/UTMA account and who is it best suited for?

    UGMA and UTMA accounts allow you to transfer financial assets — such as cash, stocks, or mutual funds — to a minor without the restrictions of a trust. Unlike a 529, the funds can be used for any purpose once the child reaches adulthood. We can help you determine whether a UGMA/UTMA account fits your gifting and savings goals alongside other accounts you may already have.

  • What is an ABLE Plan and who qualifies for one?

    An ABLE Plan is a tax-advantaged savings account for individuals with qualifying disabilities, allowing them to save money without jeopardizing eligibility for government benefits like SSI or Medicaid. Funds can be used for a wide range of disability-related expenses. We can help eligible families understand contribution limits and how an ABLE Plan fits into a broader financial strategy.

  • Can I use more than one goal-based savings account at the same time?

    Absolutely — many families benefit from using multiple accounts together. For example, a 529 Plan can cover education costs while a UGMA/UTMA account builds general wealth for a child, and an ABLE Plan supports a family member with a disability. We'll help you coordinate these accounts so your savings strategy works as a cohesive plan.