Donor may change beneficiary for the following plans:
I. Section 529
II. UGMA/UTMA
III. Coverdell ESAs
The correct answer is:

Name: Donor may change beneficiary for the following plans: I. Section 529 II. UGMA/UTMA III. Coverdell ESAs The correct answer is:
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Question

Quizplus · Accepted Answer

For Section 529 plans and Coverdell ESAs, the donor can change the beneficiary. However, for UGMA/UTMA accounts, the beneficiary cannot be changed once designated, as these accounts are irrevocable gifts to the minor.

Donor May Change Beneficiary for the Following Plans