GET HELP: (314) 884-6058
Schedule a Consultation
  • HOME
  • How it Works
  • Pricing
  • Contact Us

Who Owns The 529 Plan We’ve Been Contributing To?

June 30, 2014 by Marc Jacob

529 college savings plans are qualified tax-preferred savings instruments that many families open to put money away for a child’s education.

For couples who remain married, though they are continually contributing to the 529 account, for all intents and purposes the funds held there belong to the child, for use in future educational expenses.

When couples divorce, they learn that the 529 account is a marital asset whose value is subject to division, so whether jointly or singly held, the asset must be properly accounted for and the balance handled properly.

In the most amicable of divorces, it may make sense to continue to jointly hold a 529 account, but for most divorcing couples, other arrangements will have to be made, usually in the larger context of agreements related to college savings.

The attorneys at Zelenitz, Shapiro & D’Agostino can help develop settlement agreements that properly account for the funds in a 529 in the way that works best for you.

Call us today at 718-523-1111 for a free consultation with a Queens divorce attorney.

Filed Under: Divorce

HOW CAN WE HELP YOU?

We strive to get back to you within 1 business day

* REQUIRED FIELDS

Contact
7733 Forsyth Blvd. #1100,
St. Louis, MO 63105
By Appointment Only.
Contact Us : 314-884-6058

Copyright © 2022 Home Sweet Legal

THE CHOICE OF A LAWYER IS AN IMPORTANT DECISION AND SHOULD NOT BE BASED SOLELY UPON ADVERTISEMENTS.

© 2022 Home Sweet Legal®, a division of The Jacob Law Firm, LLC d/b/a Marc Jacob, Esq. All Rights Reserved. Information provided on this website is for informational purposes only, and should not be construed as legal advice. Transmission of information from this website or via Internet email from or to this website or via any forums hosted or provided by this website does not create an attorney-client relationship, nor is it intended to create such a relationship. Links to sites maintained by third parties are for your convenience, but this law firm does not endorse those sites.

No attorney-client relationship exists until at least one Client has signed our fee agreement and the law firm has either signed it or sent a confirming email that we accept the representation.

Website & Marketing by: The Attorneys ATM