OK, I got it, that I future grandfather, Me, will have tax issues when my future grandson gets to use the funds.
Next Q. Son restarted 529 program as owner and beneficiary. When he later has children, he renames beneficiary to newborn. Potential gift tax can also occur?
followup Q. Is current gift limit = $60,000 over 5 years? Can it restart or can you $15,000/yr indefinitely?
followup Q2. Is gift limit additive over all programs as Coverdell + 529 or gift limit applies to each program?