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2/13/2008 3:51:21 AM 529 College Savings Plans  

guinness85
Streetsboro, OH
age: 22


Have a question, hopefully someone has been down this road. I want to start a 529 investment, but do not have kids yet. If I make myself the beneficiary, and then transfer it to a child when I do have one, is there a penalty?

I know you CAN switch beneficiaries, but if you skip (benefiting) a generation there is a penalty. Would the penalty still apply in a case like mine?