- posted 9 years ago
There is a Fidelity 529 plan setup for our son by his grandmother - wife's mother - My wife is listed as the Successor Participant.
The grandmother died about a year ago. We just called Fidelity to find out the logistics to withdraw funds for college.
It appears that the Successor can't withdraw funds directly, and we have to basically open a new account & transfer the funds by submitting the Fidelity paper work & death certificate.
So - what exactly does a Successor entity provide ?
And if Fidelity will just send a check directly to us.... what's the purpose of having a Bene listed or a Successor listed ? I was expecting the Successor to have total control, and all checks to be issued in the name of the Bene...