You are and will stay the owner of the 529 funds. Funds may be disbursed back to you at any time.

The owner is usually a parent or grandparent. However you can make an account for yourself to pay for your own schooling or to pay back up to $10,000 of your loans at a discount–usually minus the state tax rate. (A Utah drawback is that the state tax credit can only be received if the account was started for a beneficiary before their 19th birthday.)

A kind person can in theory start an account for anyone from whom they can pry a social security number.

An institution, such as a trust or corporation, may be an account owner with a designated manager. Employee contributions are therefore allowed.

In contrast, you are not the owner of your child’s UGMA/UTMA account—the owner is the minor beneficiary. It is managed by an adult agent until the beneficiary reaches the state’s age of majority or age of termination, usually age 18-25 years.

Another “interested party” or person with limited power of attorney may be granted read-only access online to the beneficiary’s 529 account.