Reply to 529 Money --Too Much?

Forum Index » Money and Finances

Reply to "529 Money --Too Much?"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]
You're the owner and your 7 year old is the beneficiary. He grows up, goes to school and uses 2/3 the money. Your intent is his kids use the remainder for school. You die and he becomes the owner and names his 2 kids as the beneficiaries. One gets a scholarship and the other uses 1/2 of the money. Your son dies and his wife becomes the owner. She names her grandchild from her first marriage as sole beneficiary. [/quote]

The name of this child from the first marriage?

Adolf Hitler.

There. You have literally just paid for a fancy education for Adolf Hitler.  Happy now?[/quote]

She's still dead. After you've passed on your wealth to the next generation you need to cut the strings a bit. We aren't talking about millions of $ here, we are talking about some money left in a 529 account. The son and his 2 children got college educations. Seems like that's enough.[/quote]

You're completely discounting the INTENT of the person who EARNED the money to begin with.  This is no different from prenup planning, especially related to second marriages when one has kids already.  To discount someone's intent because they will be dead is not appropriate.  That's what a will, trust, prenup, etc. is for.[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics