Hi! We anticipate having some left-over 529 funds. We are interested in using these funds (and then adding more) to create an asset to be used by future (non-existent as of now) grandchildren / great-grandchilden. Does anyone have experience with doing something like this? If so, am interested in any lessons/tips (best states to choose, best beneficiary/owner transfer approaches / unforeseen tax/financial hurdles, etc).
I have read about this strategy in a few places (bogleheads / kitces). With the "grandparent exception" for fafsa it seems like a small investment now could potentially create life-changing education endowment for family which does not preclude other financial aid, but not sure what I might be missing. Thanks for any input from those who are doing (or decided against) something similar.
