However, the question that often arises in the case of grandparents funding a 529 plan is in whose name the 529 plan should .
Is it better to create the 529 plan with the grandparents as the owner/participant of the 529 plan (with the grandchild as the education beneficiary), or to put the 529 plan in the grandchild’s name outright?
Let’s see if we can help demystify this unique investment.
There are probably a half a dozen other questions that may come to mind in contemplating how to deal with 529 plans and divorce.
And for grandparents trying to diminish their own estates, often the best tactic is simply to make tuition payments directly to the college institution, which can be done above and beyond the annual gift tax exclusion limits.If I want to establish an AIP or EFT option on my 529 account, what type of bank account can I use? Most mutual fund companies are not members of the ACH network. There is no limit to the number of accounts an account owner or beneficiary may have.You must have a personal checking or savings account held with a U. financial institution that is a member of the Automated Clearing House (ACH) network. Please note that for all 529 plans sponsored by the State of Nevada the combined maximum contribution amount is 0,000. The Maximum Contribution Limit is based on the aggregate market value of the account(s) for a designated beneficiary, and not on the aggregate contributions made to the account(s). Accounts that have reached the Maximum Contribution Limit will continue to accrue earnings, although future contributions may not be made to such accounts.