529 question

Financial Planning - Financial planning in general. (Moderated) 

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Subject Author Date 529 question Financial Planner 01-11-2007   Re: 529 question Todd H. 01-12-2007
Posted by Financial Planner on January 11, 2007, 4:41 pm Can a parent give their parent (the child's grandparent) money to put in a 529 plan? This seems like it would enable the money in the 529 to not be considered the childs or the parent's for Financial Aid eligibility purposes. Posted by Todd H. on January 12, 2007, 4:59 am > Can a parent give their parent (the child's grandparent) money to put > in a 529 plan? This seems like it would enable the money in the 529 to > not be considered the childs or the parent's for Financial Aid > eligibility purposes. I don't know. But, for what it's worth, when I (quite recently) opened a 529 plan for my kid, I had to provide the SSN of the beneficiary. I believe also to specify the beneficiary's relation to me as the account holder. I'm not sure how a withdrawal for the child's educational expenses would occur in your scheme, but I don't know how the checks and balance all occur to validate qualifying withdrawals from a 529. But aren't 529 assets counted as the parent's anyway? Or have financial aid formulas taking separate treatment of 529 money in the financial aid formulas? Best Regards, -- Todd H. http://www.toddh.net/ Similar Threads Posted IRA question January 8, 2007, 5:00 am TVM Question, please help February 8, 2007, 4:33 pm S.S. Question, Please September 1, 2007, 8:40 pm 403(b)/457(b) question October 3, 2007, 4:24 pm Re: Another Soc Sec question October 30, 2007, 11:29 am RMD question January 17, 2008, 1:04 pm SEP question May 16, 2008, 8:17 am annuities question(s) October 24, 2006, 8:33 am Another gifting question December 14, 2006, 9:14 am Another IRA / Keogh question December 21, 2006, 11:25 am