529 education account funded by my life insurance

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HarriedParent

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We live in Washington, children live in Oregon (with income taxes). I would like to fund a grandchild's education by making a contribution to his 529 account with my life insurance proceeds. Can I leave the money to my child (inheritance-tax free), and he puts the money into the grandchild's 529 account? Would he then get the federal and state tax deductions?
 
HarriedParent said:
We live in Washington, children live in Oregon (with income taxes). I would like to fund a grandchild's education by making a contribution to his 529 account with my life insurance proceeds. Can I leave the money to my child (inheritance-tax free), and he puts the money into the grandchild's 529 account? Would he then get the federal and state tax deductions?
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This is a legal discussion forum.
Trust me, you don't want to jeopardize your assets by acting upon FREE tax or money advice.
I suggest you consult a tax attorney or a CPA.
 
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