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What else can I help you with?
How can I start a 529 plan for someone else?
To start a 529 plan for someone else, you will need to open the account as the account owner and designate the intended beneficiary. You can typically do this online or through a financial advisor. Be prepared to provide personal information for both yourself and the beneficiary, as well as make decisions about investment options and contribution amounts.
Can both parents be listed as account holders on a 529 account?
Yes, both parents can be listed as account holders on a 529 account.
Can I open a 529 account for my nephew?
Yes, you can open a 529 account for your nephew to save for his education expenses.
Can I open a 529 account for my niece?
Yes, you can open a 529 account for your niece to save for her education expenses.
Can you open a 529 account for your niece?
Yes, you can open a 529 account for your niece to save for her education expenses in the future.
How can I start a 529 plan for someone else?
To start a 529 plan for someone else, you will need to open the account as the account owner and designate the intended beneficiary. You can typically do this online or through a financial advisor. Be prepared to provide personal information for both yourself and the beneficiary, as well as make decisions about investment options and contribution amounts.
Where can I go to get some information on my 529 plan?
If you need information on a 529 plan you already have then you need to contact the bank that you have the account with. If you need info on 529 plans, then you can talk to a financial planner and your bank or an accountant. You can also check out www.savingforcollege.com/
Can both parents be listed as account holders on a 529 account?
Yes, both parents can be listed as account holders on a 529 account.
What is a 529 account used for in the US?
A 529 account is an account that is used in the United States for people who are saving for higher education expenses. Check out their official website, 529, for more information.
Can I open a 529 account for my nephew?
Yes, you can open a 529 account for your nephew to save for his education expenses.
Can I open a 529 account for my niece?
Yes, you can open a 529 account for your niece to save for her education expenses.
Can you open a 529 account for your niece?
Yes, you can open a 529 account for your niece to save for her education expenses in the future.
Can a 529 Plan be transfered to the Coverdell Education Saving account?
If you move money from a 529 account into a Coverdell Education Savings Account, you pay taxes and a penalty. It is only tax free if you move money FROM a Coverdell ESA to a 529 plan.
What is the requirement for the 529 plan?
The requirement for the 529 plan, for residents of Illinois, would be of course residence, and then you would need various proof of living and birth to show.
What happens if I close my 529 account?
If you close your 529 account, you may have to pay taxes and penalties on the earnings, and you may lose out on potential college savings benefits.
Are 529 plans excluded from estate tax?
Yes, 529 plans are generally excluded from estate taxes, as the assets in these accounts are considered to be owned by the account holder, typically the parent or guardian. This means that contributions to a 529 plan are not included in the account holder's taxable estate. However, if the account holder passes away, the assets in the 529 plan would not be subject to estate taxes but may affect the financial aid calculations for the beneficiary. It's always advisable to consult with a tax professional for specific circumstances.
Who maintain control over the 529 plan?
The account holder
