malibu.ron[at]verizon.net wrote:
- quote -

No, but you can do it with a Coverdell Education Savings Account (aka
"education IRA"). Contribution limits are a lot lower though.

And there's always UGMA/UTMA. Depending on the $ involved, what you
invest in and your level of turnover, the tax deferral of a 529 or
exemption of an ESA might not be much of a benefit.

-Tad

The law allows tuition payments directly to the educational institution
without incurring gift taxes. You do have to be alive. Beyond that, try
consulting an estate attorney about establishing a trust, but also be
aware that income reported to a trust maxes out quickly to the top tax
brackets, so opening a standard brokerage account in your grandson's
name might provide a better alternative. In both, you can invest in
options on futures if you wish - i.e. you are not restricted. (An IRA
can be gifted at death, I believe, which would avoid taxation as the
money accumulated, but I have no idea what the tax treatment would be
to the beneficiary. Usually, somewhere along the line, money will be
subject to taxation, and the simplest choices - such as opening a
brokerage account in your grandson's name - may be the most manageable.
Check with an estate attorney though - it will be worth the $250 price
of a single text book in 2015.)

malibu.ron[at]verizon.net writes:

- quote -

I believe 529 plans are by law *not* allowed to be self-directed.

--
Rich Carreiro rlcarr[at]animato.arlington.ma.us

I wish to establish a college savings plan for my 7 year old grandson.
The most critical issue for me is finding a vehicle I can self direct
funds into the stockmarket, not mutual funds etc.