False assumptions. No deduction in the state of California. Nevada has the Upromise accounts set up through Vangard but there is a 20$ yearly charge. New York has the identical plan minus the 20$ charge. As for assett protection have your parents set up the funds and send them the checks to put into the accounts for the kids. The upromise accounts typically carry a higher expense fee but if you are a small business owner and you take advantage of the upromise saving by using there credit cards and buying products sponsored by upromis e you can make up the cost difference. This requires a coupon cutter mentality.
