I established a 529 plan for my daughter for her master's degree, but she did not go for graduate study. She had twins, and she opened 529 accounts for them. Should I transfer the money to their 529s or keep ownership? I am 67, and the grandkids are 1 year old.

If I keep ownership and if by chance I die before they are college age, what happens?

Augusta, Ga.

If you now want the money to go to your grandchildren's college costs, probably "the easiest way to go" would be to make your daughter the owner of the 529 you originally set up for her, says Joseph Hurley, founder of Savingforcollege.com. Most but not all plans allow that. Your daughter would then be in control of the account and be able to divide the money into separate accounts for the twins—including by moving those dollars into the 529 accounts she has already established for them.

A prime reason not to transfer ownership would be if you think you might need the money for yourself later in life. In that case, Mr. Hurley says, you could just change the beneficiary to be one of the grandkids—and then transfer half the money to a new account you set up for the other twin. He cautions, though, that that move could trigger gift-tax consequences for your daughter, because the beneficiary change would be treated as a gift from the original beneficiary, your daughter, to her child.

If you maintain ownership, you should name a successor owner—possibly your daughter—to oversee the accounts in case you die before the twins reach college age.


How can I find the formula to compute the Social Security benefit I would be entitled to as either an ex-spouse of a retired former husband or as an ex-spouse of a deceased former husband?

When I call Social Security, they will only tell me that the benefit I could receive is less than what I am currently receiving. Currently, my former husband is 68 and receiving his benefits.

Murray, Utah

A worker's divorced spouse may be able to collect a retirement benefit equal to as much as half of what the worker is entitled to at his or her full retirement age—the same benefit as for a current spouse. Among the requirements to qualify as an ex: You were married to the worker for at least 10 years, and you are currently at least 62 years old and unmarried. You aren't eligible if you are entitled to a larger retirement benefit based on your own work record—which appears to be the case for you.

And "eligibility" is a key word here, says Dorothy Clark, a Social Security spokeswoman: A person who is eligible for a divorced-spouse retirement benefit can get an estimate of that benefit. If you're not eligible, you will be told only that.

You're smart to also ask about the potential benefit if your ex predeceases you: That amount can be much larger. Ms. Clark says a local Social Security office can estimate what, if anything, you might be entitled to as a surviving divorced spouse.


I'm living on Social Security alone. I'm a Vietnam veteran, live in a large metropolitan area with excellent VA medical coverage, but still continue to be enrolled in Medicare Part B (which I never use).

So, other than traveling in the U.S. to places not near a VA health facility, is there any reason not to opt out of Medicare Part B?

Mesa, Ariz.

Yes, there are other reasons to maintain Medicare Part B coverage for doctor and outpatient care, says Jon Clement, a health-care specialist at Buck Consultants. While that coverage isn't cheap—the standard charge this year is $115.40 a month—he suggests you "hedge your bets" and keep paying.

Down the road you might want to relocate somewhere where there isn't a convenient Veterans Administration facility. In addition, Mr. Clement says there could be cutbacks in the VA health network. And there could be a situation in which you need specialized care and would prefer a non-VA provider. By staying in Medicare, "you preserve your access to a greater group of providers," he says.

You would also preserve your ability to enroll in a private Medicare Advantage plan, which could be advantageous if you needed long-term care in a nursing home or other facility, Mr. Clement says.

To be sure, you could drop Medicare Part B now and re-enroll later. But your premium would be increased 10% for each 12-month period you were without coverage. General enrollment runs from Jan. 1 to March 31 each year; coverage starts July 1.
