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Trickle down: Granddad's 529 goes to son (Video)

08/23/2011

QUESTION:
Dear Joe,

I am a grandfather contributing to a 529 plan for my granddaughter. I am the owner of the account and my granddaughter is the beneficiary.

Can I withdraw the funds from the account and reimburse my son who has paid the tuition, room and board and other qualified expenses?

The reason for this question is the parents want to pay the expenses since they feel it is a parental obligation to educate their children.

-- Bill

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ANSWER:

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