Another 529 plan question:

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Subject Author Date Another 529 plan question: Chris Fasano 02-19-2007
Posted by Chris Fasano on February 19, 2007, 5:02 am Does anyone have any experience as to the rules regarding who the new owner of a 529 plan would be if the owner died and there was no contingent owner listed on the application, or if the contingent owner had predeceased? Someone told me the owner's Will, or the intestate laws, decide the new owner in this situation. Can this be right? It would mean the assets are not included in the gross estate for tax purposes, yet included in the probate estate, subject to spousal right of election. And then, I suppose, maybe, the 529 assets would be subject to executor's commissions, etc etc. Can the 529 plan be used as some sort of family dynasty trust? Owner and beneficiary changed from generation to generation by death, without any distributions being made for education at all? What do you think? Similar Threads Posted Question about deferred compensation plan March 4, 2008, 11:00 am Retirement IRA plan January 7, 2007, 7:35 am investment plan for 25K January 27, 2007, 4:58 am Can I use one 529 plan for two children? March 30, 2007, 3:02 pm 529 Education plan February 14, 2007, 4:59 am in-plan annuities September 1, 2007, 5:28 pm Need serious advice on my IRA plan..... March 8, 2008, 12:25 pm 401k plan April 23, 2008, 5:16 am 529 plan - Illinois Brightstart December 29, 2006, 5:02 am Retirement plan withdrawals January 10, 2007, 8:37 am