By Ellen Hoffman
SPREADING IT AROUND. So how do you follow the rules to provide the most benefit to everyone in your family? Mary Ann and Stan Armstrong of Smithville, Mo., learned some lessons about this recently when they sought advice from Todd Shepherd, a financial planner in Leawood, Kan.
"I knew we didn't have anywhere nearly enough saved either for retirement or college," Mary Ann explains. Yet she had recently received an inheritance from her father. Mary Ann, 45 and Stan, 48, have two children, Sean, 8, and Noah, 3. Mary Ann, a nurse, does occasional part-time work but mostly stays home with the children. Stan is production manager of a food-processing company.