{ "media_type": "text", "post_content": "Can a parent break 529 and frivolously spend away? Can a parent break a trust fund he had previously setup for a child and spend it away? Legally going after it after the fact doesn’t work for me", "post_id": "5e370ba7e23bec002100b1e4", "reply_count": 7, "vote_count": 1, "bowl_id": "552d1d24dc1c586b09d2d051", "bowl_name": "Consulting" }

Can a parent break 529 and frivolously spend away? Can a parent break a trust fund he had previously setup for a child and spend it away? Legally going after it after the fact doesn’t work for me

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Uh yeah it’s their money isn’t it

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Whoever opened a 529 can change the beneficiary to themselves and spend as they please, less any taxes or penalties for spending on non-qualified education expenses.

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Probably some tax related issues but shouldn’t be an issue otherwise

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Unless it’s an irrevocable trust

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OP, this is normally specified in the trust. I've always had a will as well as the trust, all set up together. Some Irrevocable trusts are A-B-C trusts to cover this.

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Yes and yes

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