Hi. My father owned an account in his state, New York, for my daughter. In recent years the only source of new funding to that was through the Upromise credit cards my wife and I use. We live in Maryland and have a separate account here for our daughter.
My father's passing has left me as the owner of what had been his NY account. I assumed I would just keep the status quo with that account. But I was cautioned that there might now be tax implications to me, as the owner of a NY account who doesn't live in NY.
Is that the case? If so, should I roll that money into our Maryland account? Would we still be able to send our Upromise dollars that way? When we signed up for all this, many years ago, Upromise was compatible with NY plans but not Maryland plans.
Thank you for any advice ...