Legal Question in Elder Law in Pennsylvania

IS a college fund with a grandchild as benificery and asset?

Asked on 6/17/10, 6:20 am

1 Answer from Attorneys

I do not understand the question. Do you have a 529 account for a child? How old is the child? Generally the grandparent who has the fund is the owner, not the child. The grandparent can do what they want with the fund, including the withdrawal of funds. Has the grandparent died? It might be an asset of the estate. 529 plans are exempted from the claims of your creditors or are exempt assets in bankruptcy.

Since I do not have access to the forms and do not know what you are trying to do, I suggest that you contact an attorney. If you are trying to plan your estate, then speak with him or her about the plan.

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Answered on 6/17/10, 9:37 am

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