Well, that's another beauty of the Section 529 plan. You control who gets the funds. You can cash it in. That way, the funds can continue to grow tax-deferred until used by the new beneficiary. This article highlights only the bare essentials of Section 529 plans.
Provisions vary from state to state.
And usually you may invest in any state's plan regardless of whether that is your or the beneficiary's state of residence. For further information on 529 plans in general and state programs in particular, visit the Internet Guide to Section 529 Plans and The College Savings Plan Network . Both sites contain some excellent background material, provide an overview of what your state offers, and provide a ready means of comparing plans between states. That's it for this week. As usual, post away on the Retirement Investing or the Retired Fools board.