I have been given the responsibility by my mother in her trust to donate 20k for my granddaughter's college or tradeschool education. She is 6 years old. What is the best tax strategy vehicle for the investment. The investment will probably be in mutual funds or other diverified professionally managed stuff.
My in-laws contribute to the Unique College Investment Fund through Fidelity Investments. I do not know if it is a tax-saving plan, but you can contribute a big lump sum or payments. The fund invests money less aggressively as the child approaches college age. Check it out.
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