Divorce and 529 plan

[PattyP]

Hello everyone...I'm new here.

I had a question. I am divorced a few years and not on any good terms with my ex-husband, so I can't ask him anything. We live in Florida and I want to open a 529 savings plan for each of our kids. Great. I have no problem doing this. I know the ex values education highly and might have already opened 529 accounts for the kids. Can each parent have separate 529 plans for their kids? We both live in the same state. Its ashame we don't get along, but I want to save for college, but don't want to break any laws or incur penaltys down the line for duplicating something I should not....any suggestions or comments about this sitch?

Thanks
Patty

[PattyP]

Re: Divorce and 529 plan

I think I just found the answer to my question from the florida college investment plan...looks like I can :

Q. Can two people open an account for the same student?

A. Yes. Different account owners can open an account for the same beneficiary (student). So, for example, a parent and a grandparent can both open separate accounts for the same student. Whoever is listed as the account owner, controls the account.

Anyone can make contributions to an account; however, only the account owner can authorize a withdrawal, even if someone else has made contributions to the account.

The same account owner cannot open multiple accounts for the same beneficiary The account owner may, however, select different investment options for the same beneficiary.