Saving for College: What Happens to a 529 Plan When You Divorce?
Your children may be too young to even know what career they would like to pursue, let alone know which college they want to attend. But if you and your spouse, like so many other parents, set up a designated 529 college savings plan, a tax-advantaged investment account used to help parents squirrel money away funds to cover the eventual cost a child attending college, you may be wondering what’s going to happen to this money now that you are getting a divorce. Your family’s situation is unique, of course, but here are a few common possibilities for dealing with a 529 plan during a divorce. Read more