Ask Terry Questions Brightstart 529

Brightstart 529

By Terry Savage on November 16, 2023 | College Savings / Student Loans

Does it matter who (parent or grandparent)opens a 529 account?
Is there any benefit to one or the other?
Also, what is the website?
Thank you.

Terry Says

If you want a state tax deduction and are an Illinois resident, make yourself the custodian of the 529 plan. Similarly, many grandparents want to keep “control” over the plan, which is another reason for being the custodian.
The website for the Illinois plan is www.BrightStart.com.

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