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I knew it was an option but I haven't done it so far because we've used Coverdell and UGMA money for the first year for the youngest. Because my state gives a tax break on 529 contributions, in the future, I'll be running his college money through there. It saves slightly under 5% on our state income taxes for whatever money goes through.

There's an article about it in today's print version of the WSJ but there's probably info on it at Joe Hurley's site( as well. Check all the ramifications in your plan if you're planning on doing it.

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