Since you control withdrawals from your account, you have several options if the beneficiary decides not to attend college. Leave the assets invested in the Plan for later use. Contributing to a 529 Plan account may also provide important estate planning benefits to families whose estates exceed the estate-tax exemption. The Plan's high contribution limits provide a convenient way to effectively lower the taxable value of your estate. From investment options, and withdrawal penalties, to beneficiary changes all the rules seem to vary.
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