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Adult Children
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[quote=Anonymous]Re: 529. Echo PP’s response. They do it so they have a say in how the funds are used, because they must be notified and must sign off on it. It definitely complicates things from a logistics perspective because you are doing the process for two separate accounts and in the case of theirs, you need their explicit permission. And yes, your child is more likely to know exactly how much grandma and grandpa helped, unlike if they just contributed to your account. It can be fine if you are truly close with your parents and these money related discussions are natural and easy. Otherwise be prepared for commentary from them on which college your children decide to go to, and by the way why not choose a school close to grandma and grandpa? If they have such a strong opinion on where your family should live now don’t expect anything different when it comes to your children. [/quote]
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