Shopping for a 529 Plan for a Grandchild

[Question]My husband and I live in Virginia, and our grandson lives in Utah. What is the best way to set up a 529 plan, given that we live in different states and we have no idea where he will go to college?

[Answer]Your grandson will be able to use money from). Because any eligible educational institution qualifies for tax-free 529 withdrawals -- including almost all public and private colleges, some foreign universities and some post-secondary vocational institutions -- you'll be able to choose a 529 plan based on any tax break you may get for your contribution. If your state doesn't offer a tax break, shop for a plan based on its investment choices, fees and other details. You can look up eligible educational institutions at the U.S. Department of Education's .