529

So, a 529 plan is designed to help save for the future education costs of a single beneficiary.  You as the plan account owner may change the beneficiary as often as you like on a 529, so there are no limits on either yearly or lifetime.   It does have to be a qualifying family member though.  A qualifying family member includes:

Natural or legally adopted children

Parents or ancestors of parents

Siblings or stepsiblings

Stepchildren

Stepparents

First cousins

Nieces or nephews

Aunts or uncles

In addition, the spouse of the beneficiary or the spouse of any of those listed above also qualifies as a family member of the beneficiary.

Keep in mind though there will be paperwork each time you do it.  

Thanks again for the question   @jad56061 

All the best,

Marc 

Employee Tax Expert