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Level 1
January 25, 2023
Question

529 Accounts

  • January 25, 2023
  • 1 reply
  • 6 views

I am in AZ and I want to set up a 529 account for grandchildren in another state. Should the account be in AZ or in the state where the grandchild lives?

1 reply

Level 15
January 25, 2023

That all depends on the state.  Some states limit where the money can be spent when you open a 529.  You should open the account where it will do your grandchild the most good.

 

Here is a great article (and video) on 529 plans.

 

@wallhmaz

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