A beautiful gift from my parents today

[brett]

duplicate.

[brett]

The plan that we have for our grandchildren is not tied to a specific institution or indeed to any post secondary. The monies will revert back to us in whole or in part if not used. It is a family fund that can be accessed by any number of grandchildren in the same family.

The will provisions are different. Set amount. If not used for past secondary then the money reverts to each grandchild at age 28. They are a long, long way off from that.

[target2019]

Quote:

Originally Posted by Beer-man All of the above is true, great insight.

Thank you. I'm retiring from this thread with perfect batting average.
[emoji106]

[yclipse]

Quote:

Originally Posted by pb4uski What happens if the child's best choice is out of state? Of if the child choses not to attend college? Or joins the military?

Under Michigan's plan, the owner can get a calculated cash refund if the funds are not used for attending a college in Michigan - standard 529 terms.

[Pellice]

And the gift does not only benefit the grandchildren! I can sense some of the stress over this future goal slipping from your shoulders as well! You and your children still have to set aside money, but in a more easily achievable way - and that has to feel good!

[Beer-man]

Quote:

Originally Posted by Pellice And the gift does not only benefit the grandchildren! I can sense some of the stress over this future goal slipping from your shoulders as well! You and your children still have to set aside money, but in a more easily achievable way - and that has to feel good!

Yes you nailed it! Honestly I felt both a burden to prepare for that time financially but also provide for them now emotionally and being around to help them develop and being a good dad. Those priorities were competing for my time, now I can enjoy the now time with them and not stress about work/saving as much