Is there a page on the Fool that discusses the Education IRA in detail? I tried a search using "education&ira" and came up with zilch.

I am thinking of setting one up for my soon-to-be nephew (hopefully tonight). I am looking for specific info like: If I set it up, can it later be transferred into his parents' names (as custodians)? Can someone else contribute to the account (e.g. if I should someday exceed the income maximum)? I've heard that one way to avoid the income max is to give the money as a gift to the child and then set up the ira in their name so they are technically contributing to their account? Can you make a contribution the year the child turns 18? Or do they have to be under 18 the entire year to contribute?

Thanks.

-zaxis