Our situation is that our daughter, who is doing quite well on her own, will likely never again attend higher education. If she does she will handle her own expenses. There is a not insubstantial amount left in the College IRA we established for her. She is approaching the maximum age where proceeds must be distributed.
We would like to change the beneficiary of the College IRA to our grandson both to allow the funds to grow for another 15 years and to have an education safety net of sorts for said grandson, whose parents are struggling financially.
Can we, as the ones who who originally established the College IRA, change the person who it benefits? If our daughter legally owns the College IRA, can she change it to benefit our grandson (her nephew)?
