Brat
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We established Washington State GET 529 accounts for three grandchildren shortly after their birth, the eldest is 8. The program has offered participants the opportunity to cash out at the current value of the units so we are considering that option.
If we did that we could transfer the $ for one grandchild to the 529 investment account controlled by her parents. We do not expect she will need financial assistance to pay for college.
The dilemma is what to do for the other two (siblings) who are 5 and 7. Both exhibit the smarts to make it to college but one never knows what the future will hold. They will likely apply for scholarships, loans or grants to help pay for college. Are there any risks or advantages to establishing one account with both their names on it?
We now live in Oregon as do the two grandchildren discussed above so if we close the GET account we cannot re-open it.
Thoughts folks?
If we did that we could transfer the $ for one grandchild to the 529 investment account controlled by her parents. We do not expect she will need financial assistance to pay for college.
The dilemma is what to do for the other two (siblings) who are 5 and 7. Both exhibit the smarts to make it to college but one never knows what the future will hold. They will likely apply for scholarships, loans or grants to help pay for college. Are there any risks or advantages to establishing one account with both their names on it?
We now live in Oregon as do the two grandchildren discussed above so if we close the GET account we cannot re-open it.
Thoughts folks?