Layla & Sofie's 529 College Savings

On Sunday, September 30th, Ritesh (Reet) Patel tragically passed away in High Point, NC at the very early age of 39 leaving behind his wife, Swati, and their 2 beautiful twin girls, Layla and Sofie. Swati and Reet’s mother were out shopping for the girl’s upcoming 2nd birthday when they received the phone call from Reet’s father that conveyed the news that unfortunately changed their lives forever. All of a sudden, a mother and a father no longer have their son, a wife no longer has her husband, two daughters no longer have their father, and many of us, no longer have our friend. As one could imagine, this continues to be a very tough time for Swati, Reet’s parents, sister, family and friends. In an effort to help the family with the unexpected transition, we’d like to provide some financial support to help lessen the load that will be endured by Swati as a single mother to two young girls, and the ever rising costs of college tuition.

Therefore, in memory of Reet and to help set a solid foundation for Layla and Sofie’s future higher educational needs, we would like to utilize this campaign to raise funds for a 529B College Saving’s Account for the girls that will ultimately be gifted to them for their upcoming 2nd birthday later in October (as a surprise). The account will be administered by Columbia Threadneedle (SC Future Scholar Plan) and managed by Gabe Gregory of Edward Jones Financial out of Indian Land, SC. Swati will be the named account holder with both Layla and Sofie being named as the sole beneficiaries. The funds from the 529 account can be used by Layla and Sofie for any higher educational expenses where the proceeds will be tax free upon withdrawal for qualifying expenses. The immediate goal is to raise $50,000 which is projected to grow to well over six digits in the next 16 years (the expected time until the girls will go to college) assuming a 6% compounded growth rate.

Thanks for your generosity and thoughtfulness as the family goes through this challenging time. We are sure they will be very grateful for your contributions, thoughts, and ongoing prayers! Let’s make Layla and Sofie’s 2nd birthday truly special!