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Reply to "Grandparent 529 and divorce / shared cost of college"
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[quote=Anonymous][quote=Anonymous]OP here. In this situation, ex and I started 529s for our kids when we were married. They will cover probably 50 to 75% of college. Agreement states that we pay the remainder in proportion to our income, which means by share will be about 75%. My father passed away recently, and it was discovered that he had left a 529 for one of my kids. I am the successor custodian - meaning I could pay the penalty and keep the money if I wanted (not suggesting I would!). Given I’m on the hook for 75%, I think there’s a case that dad’s money should go toward my share. But I’m sure I’m not the first one to deal with this.[/quote] Morally, I think it should go towards your share. Legally, I am not sure what the answer is.[/quote]
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