The account owner of a 529 plan is the person in charge of the account. Most often, this is the parent or guardian of the beneficiary, though anyone can open an account on another’s behalf (or their own). The account owner is responsible for deciding how money in the account is invested, if it’s an education savings plan or ABLE account, or for making the required contributions to a prepaid tuition plan.

At any time, there can only be one account owner for a particular plan, though you can usually specify a secondary owner who would take over administration of the plan in the event you pass away. In some states, only the account owner can claim a tax benefit, even in cases where a relative makes a contribution.