The good news is there is a logistical workaround worth considering. Rather than changing the beneficiary of an account, simply request a rollover of funds to the other child’s existing 529 account. This leaves the original account (and its 15-year lifespan) intact and allows for future transfers between siblings if warranted. Keep in mind you can only do this once every 12 months.
Coffee Talk: Retirement Income Solutions
Join Mark Geraigery as he host Bonnie Treichel from Endeavor Retirement
What has Your Advisor Done for You?
PensionmarkMeridien is a full-service Retirement Plan Advisor. That helps you and your participants navigate the retirement planning voyage.
Monthly Economic Update: September
After a strong July, major U.S. equity indexes retreated slightly yet remained resilient in August. Treasury yields captured the market’s attention for much of the month.
2nd Quarter of 2023 Economic Update
Let’s make it three for the S&P! The second quarter of 2023 was the third consecutive positive quarter for the S&P 500 and the Dow Jones Industrial Average. The Nasdaq 100 was the biggest gainer of the three major indexes in the second quarter, with AI and large-cap tech fueling gains.