1. Non-Account Owners have no control over contributions. Only Account Owners may direct transfers, rollovers, withdrawals, investment changes and changes in the Designated Beneficiary.
2. If the Account Owner utilizes the special five-year lump sum exclusion and dies within five years of the funding date, the portion of the contribution allocable to the years remaining in the five-year period (beginning with the year after the Account Owner's death) would be included in the Account Owner's estate for federal estate tax purposes. Clients should consult their tax advisor.