Question

An individual who has completed college has been working for 9 years and is now 30 years old. He is thinking about returning to school in a few years to complete his masters degree and wants to set up a 529 Plan with himself as the beneficiary. Can he do this? A. No, because the donor and the beneficiary must be different persons in a 529 Plan B. No, because 529 Plans cannot be opened after age 30 C. No, because 529 Plans must have an independent trustee D. Yes

Answer 1

Answer:

D Yes

Explanation:

An uncommon aspect of 529 Plans is that both donor and receiver can be the same person. There is no age restriction on who may be the beneficiaries of the account. This person may themselves open a 529 plan and be both the donor and the beneficiary.

Therefore from the above explanation the correct answer is D