From: joetaxpayer 
Newsgroups: misc.invest.financial-plan
Subject: Re: Invest in 529 plan before you even have a child?
Date: Sat, 16 Sep 2006 22:39:13 -0500
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	IRDTFvleBtybkk6tx344qvbzxFbVP/s4kEy2pSrzVadZTGSPPEgyvw==
	=DVBo



Mark Freeland wrote:

> "joetaxpayer"  wrote in message 
> news:zIednV64D8jpE2HZnZ2dnUVZ_oGdnZ2d@comcast.com...
> 
>>[...]
>>A 529 must be used by the time the beneficiary of the account is 35. So, 
>>as long as you (or a sibling) is under 35, you can set the account up with 
>>the intent of transferring it before that person turns 35.
> 
> 
> Are you sure? 

  snip
> Mark Freeland
> BnetOnewsX@sbcglobal.net
> 

Nope, I wasn't on the right track at all.

529 has no age or forced withdrawal provision, you were right.
Coverdell (the account formerly known as 'education ira') has an age 30 
limit. If not withdrawn by the time the child is 30, the growth is taxed 
as ordinary income and incurs a 10% penalty.

JOE