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Financial Planning / Living Under Bankruptcy

URL:  http://boards.fool.com/i-agree-putting-one-over-on-a-trustee-is-a-crime-15866976.aspx

Subject:  Re: Sec. 529 plan disclosure Date:  10/4/2001  4:55 PM
Author:  fringel Number:  944 of 1260

I agree--putting one over on a trustee is a crime. Its called Bankruptcy Fraud.

HOWEVER--have your lawyer check state law. In some states, contributions to a 529 plan for the benefit of a minor are exempt from creditors. make sure your lawyer looks at a recent copy of the relevant law--these plans are new as are the exemptions, in those states where they exist.
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