Estate Law Questions? Ask an Estate Lawyer.
Thanks for your quick reply. If he's in private school, then you can apply it to that at this point. If he's in public school, there would be no education cost now so you would need to put it into an account to hold until it can be used for education purposes. In that case, you would want to put it in a uniform gift to minors account for his benefit with you as custodian. You will then have control over the account until it can be used for its intended purpose.
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