I have searched the existing topics but not found an exact discussion on my topic...
I have VA 529 accounts established with my grandkids (ages 5 & 1) as beneficiaries. My son also has 529 accounts with the grandkids as beneficiaries.
As part of our annual gifting program, I wish to do an annual "transfer or rollover" from my account to my son's account; so, it is a change in ownership but not of beneficiaries.
My question is whether this transaction is a "transfer" or a "rollover" (subject to the once per twelve month limitation).
I suspect that I did not set all of this up in the most efficient manner.