How to Protect College Savings in Case of Divorce or Death

Many couples don’t consider 529 accounts carefully when splitting up, and other families make a crucial mistake that can leave a mess if somebody dies.

If you’ve managed to start a 529 college savings account, pat yourself on the back. You’ll be glad you set one up — and you’re lucky you have money to spare, since plenty of people don’t.

But each of these accounts can involve up to four people: the account owner, the spouse of that owner, the beneficiary and the successor. And if you don’t understand what that means or how it works, it can create big trouble if a marriage breaks up or someone dies.

This excellent article from the New York Times explains what you need to know.