A big advantage of 529 plans is that under special rules, grandparents can make a joint lump-sum gift of up to $120000 ($60000 for individual gifts) to a .

Q. Can anyone open a 529 account? What about grandparents? . . your state to determine the specific state tax rules that apply to investing in a 529 plan. .

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Under special rules unique to 529 plans, you can make a lump-sum contribution . . The benefit of using a 529 plan is twofold–grandparents can enjoy great .

A 529 plan can be an excellent way for grandparents to contribute to a . a big advantage of 529 plans is that under special rules unique to 529 plans, .

Dec 4, 2006 . A grandparent could contribute up to $60000 to a grandchild's 529 plan all at once (or $120000 for a married couple). .

For many parents and grandparents, the new law makes 529 plans a more viable . Under the federal financial aid rules, college savings plans are counted as .

So, the grandparents establish 529 Plan accounts for each of their 10 . other 529 postings for a more detailed description of the tax rules for 529 Plans. .

Grandparents can also switch beneficiaries to other grandchildren. Note: Each 529 plan has its own set of rules and restrictions, which are subject to .

Jul 2, 2009 . Rules do vary so be sure to check with your state or a tax . .. Grandparents could also check and see if the 529 plan that your have set up .

Grandparents, other relatives outside the immediate family, and friends can help fund college tuition by opening their own 529 college savings plan .

The 529 savings plans also benefit from a special gift tax rule that allows five years of gifts to be contributed in one year. In other words, a grandparent .

Nov 14, 2009 . Join Date: Apr 2005. Posts: 15. 529 Plans and grandparents . . to 529 plans are considered gifts under the federal gift tax rules. .

A special election may even allow you to contribute up to $65000 to a 529 plan in one year. Special tax rules apply to grandparents, and all parties .

May 7, 2010 . When grandparents own the 529 plan account, under current rules it would not factor into initial financial aid eligibility at all. .

A big advantage of 529 plans is that under special rules, grandparents can make a joint lump-sum gift of up to $120000 ($60000 for individual gifts) to a .

The favorable gift tax treatment of 529 plans makes them a good estate planning tool, especially for grandparents. See the Tax Status section for details. .

Rules unclear for grandparents' 529 plan. 03/27/2006. QUESTION: Dear Joe, I .

5 posts - 5 authors - Last post: Nov 10, 2009Grandparents contribution to 529 plan Generation Skipping Transfer Tax. . There are some exceptions to the tax rules on gifts. .

The latest updates and changes in 529 savings program rules and tax . "When you contribute to a 529 plan, you'll not only help your child, grandchild, .

Under new Federal tax rules, saving for college just got a bit easier and a . A grandparent can setup a Section 529 plan for a child, with a gift of up to .

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In fact, of all the plans we have discussed, under current rules a grandparent- owned 529 Savings Plan will result in the least financial aid impact, .

May 24, 2011 . Question: Which state has the best 529 savings plan? . 529 Plan Rules Grandparents · Save For College Ira · Educational Savings Account .

5 posts - 5 authors - Last post: Mar 1that 529 plans (both regular and 529/UTMA) don't get included on . It is for this reason that grandparents and .

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May 16, 2010 . A 529 plan can be an excellent way for grandparents to contribute . a big advantage of 529 plans is that under special rules unique to 529 .

For many parents and grandparents, the new law makes 529 plans a more viable . Under the federal financial aid rules, college savings plans are counted as .

May 22, 2011 . In fact, these rules can be irreconcilable. The 529 Plan removes . the grandparents some measure of control while protecting the plan from .

There are few tax rules that seem to confuse parents and grandparents as much . gift exclusion limit does matter is in the funding of Section 529 plans. .

529 Plan Rules Grandparents. March 30th, 2010 . I know it's a long way off and rules can and probably will change – but how does it work now? .

Series EE or I-Bonds purchased after 1989 may be converted tax-free to a 529 plan if the eligibility requirements are met to do so. Can grandparents make .

The rules governing 529 plans are complex and continue to evolve. . Let's look at one set of grandparents who wish to reduce the size of their estate and .

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Nov 12, 2007 . A 529 plan owned by grandparents should not affect the . check to make sure the school's financial aid officer understands these rules. .

In this article, we'll look at the rules for 529 Qualified State Tuition Plans. We'll explore the difference between this savings vehicle and some of the .

Mar 9, 2011 . That there are several changes on 529 college savings plan rules which are . and grandparents have there investments on the best 529 plans .

4 posts - 3 authors - Last post: Jan 28, 2007Is it true that keeping it in the grandparents' names is a better . The federal rules have changed recently and all 529 plans (both the .

Mar 10, 2011 . A 529 plan can be an excellent way for grandparents to . a big advantage of 529 plans is that under special rules unique to 529 plans, .

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A contribution to a 529 plan is treated under the federal gift tax rules as a . If you contribute no more than $13000 to your grandchild's 529 account .

Learn about section 529 plans, Coverdell Education Savings Accounts, . gift rules, retirement planning and how best to provide for your grandchild's .

Jul 2, 2009 . This is why it is so very important to check with your accountant or tax professional regarding the 529 plan rules in your state. .

This rule extends to 529 plans owned by grandparents. . the rules as .

5 posts - 3 authors - Last post: Feb 27but the 529 plan is revocable. Is some scamster gets hold of the grandparents, they could bilk them out of the money in the 529 plan. .

Another classic case of 529 Plan abuse includes the grandparents who want to . of the 529 Plan, you may be able to appeal to transition rules that will be .

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5 posts - 5 authors - Last post: Apr 25, 2008I have a client who would like to open a 529 plan for their grandchild, but wants to name themselves as beneficiary initially (not sure why. .

Tax laws and financial aid rules have increasingly favored them. . . For example, a parent or grandparent cannot rollover a 529 plan account in December .

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