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Youngest, who is probably not considering grad school, has a Coverdell ESA (which, of course, has lost value since it was opened -- yeah, i know coulda shoulda woulda and hindsight is 20/20, etc. <sigh>). Oldest may start a grad program next year. My understanding is that Coverdells can be transferred to a family member. What's involved in that? What paperwork? And regarding the paperwork, is it the current value or the original contributions? Tax consequences (and I'll post on the Tax board next.

Any information or links would be much appreciated!

TIA ~~ Alison
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From the Scottrade site, it looks like you basically can just change the beneficiary by amending the account. I'd call whoever has the account and see what they want you to do.

The one thing to remember is that it has be used byt the time the beneficiary is 30 -
http://www.irs.gov/newsroom/article/0,,id=107636,00.html

(BTW, there's no assumption it had to lose value - it could have been in a savings account or MM or CD)

rad
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Thanks for the reply, rad!

The one thing to remember is that it has be used byt the time the beneficiary is 30 -

That may be relevant -- timing matters <g>.

~~ Alison
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