I have a number of post-1989 EE savings bonds that I would like to use to set up two 529s, so that we can benefit from the income tax exemption allowed on savings bond interest used to fund a 529.
I originally bought the bonds with both my and my daughter's name as co-owners. She is no longer a dependent on our taxes.
I intend to set up the 529s with myself and wife as initial beneficiaries. Do I first need to change the names on the bonds to myself only to satisfy the requirements for income tax exemption, or can I just redeem them with the names as currently listed?