“If a trust isn’t done right, as a grandparent, you can’t stop them from going out and buying a new car instead of using it for college,” said Griffith.
With the help of a financial adviser, Gerald Good, 80, and his wife selected 529 accounts because of their favorable tax status.
“I see no negatives to it,” Gerald Good said. “I’ve got a certain amount of dollars out there that I can give and they’re going to get it for their education. It’s so worthwhile.”