Legal Question in Family Law in New Jersey

529 Savings Plans

Are 529 Savings Plans set up for college costs for our children considered marital property that could be subject to divison in case of divorce?


Asked on 12/27/06, 5:05 pm

2 Answers from Attorneys
Gary Moore Gary Moore Attorney At Law

Re: 529 Savings Plans

If the funds are accessible to the parents they technically the parents property and are thereby subject to

equitable distribution but I would think that a judge would order that the funds be used for the benefit of the education of children and that if the children elect not to go to college that the funds be divided between the parties.

Call me if you like.

Gary Moore, Esquire

Hackensack, New Jersey

www.garymooreattorneyatlaw.com

Read more
Answered on 12/27/06, 5:18 pm
Jef Henninger, Esq Law Offices of Jef Henninger, Esq.

Re: 529 Savings Plans

I can't see anyone ever touching this money especially since 98% of divorces settle out anyway, I'm sure this would be set aside for the children.

If you are going through a divorce, I suggest getting an attorney to assist you. At least meet with an attorney to see if you need one. My initial consultations are always free, so call me at 732/247/3340 to discuss your case.

Read more
Answered on 12/27/06, 11:12 pm


Related Questions & Answers

More Family Law, Divorce, Child Custody and Adoption questions and answers in New Jersey