Q: We are doing some Medicare planning by looking at a Medicare Trust and have been told the 529 college saving account we have for our grandson may cause a problem. We were told we need to reduce our “countable resources”. We opened the 529 in our name so our daughter and grandson do not have to report the account. We wanted to help them possibly get scholarships or grants. Which is more important now?

A: This certainly is a tough question. Not every child is a lucky as yours, having a grandparent save for their college. That being said, long term medical cost can potentially overrun the total of any college costs. You should change the ownership of the 529 account to that of your daughter and plan for your medical future.

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