The Moneyist: My ex-husband is suing for half of our children’s 529 plans — eight years after our divorce. Is he entitled to plunder these accounts?

by | Nov 5, 2023 | Stock Market

Dear Moneyist, I opened 529 educational funds for each of our four children shortly after they were born. Only one person may be listed as the account owner, so during my marriage I owned, managed and contributed monthly to each fund from a joint checking account. 

My spouse knew about the funds, but they were not included in our marital settlement agreement when we divorced. The funds were meant to help offset the educational cost of sending our children to college.  Eight years after our divorce was finalized, however, my ex-husband has decided to take me to court for “his share” of the money contributed to these accounts. The assets weren’t concealed during the marriage. One fund earned three times the amount of our personal contributions in interest alone. Would my ex be entitled to half of the actual contributions made during the marriage or half of the overall account values, including contributions and earned interest?  Ex-Wife and Mother of Four 

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