Response to Carol Arnott's comments

The following is a response to Carol Arnott's comments on children's assets from Joyce Pearson, DivPlan@aol.com.

I would have a tendency to disagree with Carnott re: 529 Plans. My understanding is that they are an irrevocable gift to beneficiary (which is why they are out of the estate of the donor) but under the control of someone ( usually the grantor). Recognizing that even with an UTMA the 529 can be liquidated, I make sure that all parties are aware of the ease with which this can be done. So If possible they are divided for control purposes and ability to add future dollars to ensue educational goals are met but not considered part of the marital division/assets used for offset purposes.