CRLLS
Thinks s/he gets paid by the post
Under your plan (which seems fine to me BTW) would GRADUATION be a "condition" or just a "suggestion." Upon your death, the Roth IRA would belong to the child's father to handle as he wishes.
Graduation is stated as a condition. I can always soften that up should it look close. That is the beauty of my plan. One can ease up on the conditions. I feel putting such a carrot out there gives some incentive from becoming a professional student. See the below quote.
Our DIY 529 is still in the formative stage. I am still working on the fine details as new things arise. I will state in writing our plan so there can be no misunderstanding in years to come. Right now, the 1st rough draft includes:
In the event of my passing before the money is fully paid out, the remaining money will automatically become their respective father’s “Inherited Roth IRA” with all of the federal requirements thereof. Should this occur, we cannot force you to follow our intentions with that money. It is our hope that you will with the same incentives.
We reserve the right to change the provisions of this plan as we see fit. We will do everything in our ability to make certain that the net result is no less than the amounts as stated above.
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