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Starting a trust or 529 for future children

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  • Starting a trust or 529 for future children

    My parents want to start a trust or a 529 for my future kids (I think they're trying to give my wife and I a hint that they want grandkids already).  Any information or links on the different ways they could do this for kids that aren't born yet?

    While we're at it, my wife and I have also thought about creating a 529 for our future kids.  We've maxed out all retirement accounts already.  I've heard you can do this by setting up a 529 in your own name and then transferring to your kids after they are born?  Has anyone does this?  Any thoughts?

     

  • #2
    Yes, we did this. But it's usually not worth the hassle if you'll be having kids shortly.

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    • #3
      I started one for 2017 and 2018. I put it in my name. I put $4000 which is my VA state tax deduction for each year and I put it in an index fund for aggressive growth.

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