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I'll call back later http://www.kangourous.net/test-x180-ignite-uk-ed95.pdf#respectful buy test x180 in uk - Consider it a back-door estate plan. Switching a 529 plan's beneficiaries to another generation can trigger gift and estate taxes, so you have to be strategic. In the case above, for example, if your account had grown to more than $14,000, you wouldn't be able to move all of it to a beneficiary in the next generation at once. But you could move $14,000 a year (indexed for inflation) to a new beneficiary without even starting to reduce your lifetime gift and estate tax exclusion. To avoid having to change beneficiaries on a large account, you could start to switch the beneficiaries as soon as the next generation is born and they would still benefit from the long-term compounding you set in motion.
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