Coverdale Educational Savings Account - kid's owned or parent owned?

Paying for College
1

I set up S1’s ESA (originally “EIRA”) years ago and I can see it. But it’s unclear if
officially I own it and thus it would be considered part of my assets or part of S1’s
assets. http://www.finaid.org/savings/coverdell.phtml If I look at the Schwab statement
it shows:

ROBERT JAMES DOOLITTLE FBO
A DOLITTLE SAVINGS ACCT
CHARLES SCHWAB & CO INC CUST

Would that imply I own it or kiddo?

2

I am not an accountant. However, from my reading, the parent owns ESA and 529 accounts and must count them as an investment asset on the FAFSA. If you set up a UTMA/UGMA for your child, then those assets are owned by your child.

3

Thanks@CoMoMom. That’s how it appears to me to. I’ve updated the FASFA so the ESA is now under my assets which has the effect of lowering EFC.