529 -Set up in Parent’s name or Grandparent’s name?
Hi Terry,
Would it better to start a 529 for a grandchild in my name or have the parent set one up and contribute to that one?
Love your website!
Thank you,
Terry Says
Now that there is no difference in the impact on financial aid, you can set up the 529 in either the parent’s name or grandparent’s name.
Or there could be two accounts for the same child, useful if there’s a tax deduction for your contribution in your state of residence.
