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In this litigious age, I want to make sure that any money I put away for college is sheltered from creditors. (Suppose my start-up business goes down the toilet of I "insult" some ultra sensitive Fool?) Hence, I'm interested in irrevocable trusts. I'll manage the finances, keep income & gains to a minimum, and use Vanguard as the low cost provider. So my questions are:

1) If I use a 529 plan and plunk down, say, $50,000, who really owns the money? Is it totally beyond the reach of creditors? (Legally, I guess that means the money is out of my estate.)With an irrevocale trust, this situation is clear -- it's out of the estate.

2) If the 529 money is still in my estate, can I have the owner be the trust? Hence, I'd open a 529 account in, say, New York, but have the beneficiary be the trsut (F/B/O my son) and not me or my son directly.

Hope you can help.

Stu 1964
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