The account application is the application to be completed and submitted to the Edvest College Savings Plan, along with payment, to participate in the Plan. It incorporates by reference the Plan Participation Agreement.
The account owner is the owner of an account in the Plan.
The beneficiary is the person for whom the account owner is saving and is named on the account application.
The beneficiary is the person named by the account owner in the account application.
Contingent Owner (Successor Account Owner)
The contingent owner is the person designated by the account owner on the account application to succeed to ownership of the account upon the account owner's death or disability.
Custodial Education Savings Account (CESA or ESA)
A Coverdell ESA is a trust or custodial account created or organized in the United States only for the purpose of paying the qualified education expenses of the designated beneficiary of the account.
An account that is created for the benefit of a minor, with an adult (agent, bank, trust company, or other organization) as the custodian in accordance with applicable state law. With custodial accounts, control of the account transfers to the beneficiary at the age of majority (18 or 21 depending on state).
Custodial Account Application
This is an account application used by a custodian. Download the Custodial Account application (PDF).
An agent, bank, trust company, or other organization which holds and safeguards an individual's account assets.
See Coverdell Education Savings Account (CESA or ESA).
Eligible Educational Institution
Generally accredited, post secondary educational institutions offering credit towards a bachelor's degree, an associate's degree, a graduate level or professional degree, or another recognized post-secondary credential.
Entity Account Application
This is the account application used by trusts or estates, business entities, Internal Revenue Code Section 501(c)(3) organizations, or state/local governments. Download the Entity Account application. (PDF)
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