Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

What if the beneficiary becomes disabled or dies?

Beneficiary disabled
0
Posted

What if the beneficiary becomes disabled or dies?

0 CommentsAdd a Comment

1 Answer

0

If the beneficiary becomes disabled or dies, the money may be refunded to the account owner. Earnings are taxed as ordinary income but the 10% penalty would not apply or you can change the beneficiary to another eligible beneficiary.

0 CommentsAdd a Comment
What is your question?

*Sadly, we had to bring back ads too. Hopefully more targeted.

Experts123