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Financial Planning / Paying For College
|Subject: Re: Paying for College and Aid||Date: 2/26/2013 2:13 PM|
|Author: 1poorguy||Number: 8035 of 8104|
And I wouldn't want possible college money tied up in someone's estate needing to be settled because of death.
When my dad's mom died, g-pa remarried relatively quickly. I don't remember the exact time frame, but it was just a few years (at most). The woman was...well, let's just say that dad and I had no idea why he would have chosen her. She forced g-pa to sell his paid-off home, get a new home (with mortgage) which ate up what little savings he had so he had to go back to work (at age 70-ish).
No, don't try to shuffle kids' college money among relatives, playing games with taxes and financial aid rules. It could easily turn around and bite you in ass, frankly.
1poorguy (not a guru, but wouldn't even consider this sort of thing to be a viable option)
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