529 plans are typically thought of as college expense accounts. And of course, they are first and foremost, but over the years we have gradually seen the flexibility and use of 529s expand. Whether that's using them for K-12 private schools, opening an account early in the parent's name in anticipation of the possibility of a future child, or even strategic changes to the beneficiaries of the account. But using it for retirement has never been an option… until now.

On today's episode, we'll start by discussing the Beneficial Ownership Information Report that is likely required to be filed if you have a business open and then we'll transition into the updates to the 529 plan and how to utilize it for your benefit.