Planning for your children’s educational needs is a worthwhile goal. Fortunately, various options exist for satisfying this goal. A 529 plan can prove to be a powerful tool for paying tuition as well as paying for other education-related expenses while realizing tax advantages.
Following your death, however, no certainty exists that later plan holders will continue utilizing these plans to pursue your educational goals. Instead, you might decide to create one or more 529 plans to make sure that your children, grand-children, or other loved ones can pursue educational objectives.
How 529 Plans Function