|Can I open a 529 account for a nonrelative?|
Yes. There is no legal requirement that the designated beneficiary of a 529 account (college savings plan or prepaid tuition plan) be related to you. So, for example, you can open an account for a friend, neighbor, or coworker. Also, there is no federal requirement that the designated beneficiary be a certain age. States may have their own requirements, however, so check the details of any plan you're considering.