Most couples decide to designate 529 college savings as the children’s funds to be used for college expenses. If there is no such agreement, the court will include any 529 college savings plan in the marital assets, to be divided or distributed to one party. Most likely, the court will assign savings to one parent or the other to manage the funds for the children and not reduce their share of the marital assets. Although, the Court could choose either parent to manage the funds, it is likely that the court would choose the party most interested in the child or children going to college and possibly the party who managed the 529 or other college savings plans during the marriage. Call one of the attorneys at Law Firm Carolinas in our Greensboro or Charlotte office to discuss 529 accounts.
