I have been led to believe that my 529 plans for grandkids are best in my name versus deeding to parents.
I'm now informed that they pay a penalty for need based/[not merit] for those accounts. ie 20% reduction
vs 5% when in parents name for distributions.
We've also learned that some colleges ask for such plans before granting aid. This is counter to what I understand.
Has anyone gone thru this scenario recently??
Non-investing personal finance issues including insurance, credit, real estate, taxes, employment and legal issues such as trusts and wills
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