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Who is the “responsible individual” for a Coverdell Education Savings Account (CESA)?

April 26, 2017cesa Coverdell Education savings account

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Who is the “responsible individual” for a Coverdell Education Savings Account (CESA)?

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The responsible individual is one parent or legal guardian named by the contributor when the Coverdell Education Savings Account (CESA) is established. The responsible individual can direct future investments, authorize distributions and, if necessary, name a successor responsible individual to take over in case of death.