Q: Is there any way I can get control of a 529 plan lost to the other parent in a divorce?
I am 18 about to go to college and my father accidentally ended up with my 529 plan in his name (as opposed to my mother owning it) during their divorce. The amount in the 529 would cover my cost of attendance for 4 years at my university, but he is planning on only using half of it and forcing my mother to pay the other half out of pocket. Is there any way she can get control over the account again or is there any way I can get control over it so I won’t have to take out loans? He already did the same thing to my older brother and my brother was forced to take out a $13,000 loan that’s already accruing interest.
If your father and mother are divorced, and if there is a written agreement (or court order) detailing the division of marital assets, it is highly unlikely that your father "accidentally ended up with your 529 plan in his name."
Indeed, it is much more likely that the two parties to the divorce either agreed on this issue or that the judge agreed with your father being the owner of the 529 account. It is also likely that your father paid in all (or much more) to the 529 plan. In any event, you cannot do anything legal about it because you do not have legal standing to object to the division of marital assets.
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