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I can't seem to copy and paste your message, but on the subject of setting up education accounts for kids, this is what I did for three grandchildren. It's called an Uniform Gift to Minors Act (UGMA), and with it's intended use for college, will belong to them at age 18 even if they choose not to go to college.

The accounts are set up in the childrens' names, and are handled by my discount broker who also handles my IRA. I am the custodian, but one of the children's parents could be the custodian. I have named the parents as successor custodians.

My son pays the income taxes on these accounts.

I can add up to $10,000./ year to each of these accounts. Only the custodian can add to the accounts.

Setting up an UGMA is much easier than than setting up a trust to fund a college education.

I hope this helps.
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