In regard to 529’s, are the accounts regarded as probated assets to the individual who set them up upon their death?
Q: In regard to 529’s, are the accounts regarded as probated assets to the individual who set them up upon their death? Or, does it just pass on to the successor contributor?
A: Generally, the only assets that are probated are the ones without beneficiary designations. If the 529 plan has a beneficiary designation, then it will go to that person. If there is no designated person, then the asset will be probated.