u/rawrali

I know that the laws surrounding grandparent 529 accounts changed in the last few years, but I don’t think I fully understand all of the implications of the change and what our best option is.

Currently pregnant and looking at starting a 529 for our future child. My husband and I are in Missouri, which I believe allows for a tax deduction when contributing to any state’s 529 plan. Child’s grandparents live in Illinois and Florida, but Illinois grandparents are the most likely to want to contribute to a 529 so I’ll only discuss them here. My understanding is that Illinois allows for a tax deduction for Illinois residents only when contributing to an Illinois 529 plan.

As such, which makes the most sense?

We open and contribute to Missouri (or another) 529 plan and grandparents open and contribute to an Illinois 529 plan

or

Grandparents open and contribute to an Illinois 529 plan which we also contribute to.

I’m leaning toward option 2 but want to make sure I understand the benefits fully.

Strong likelihood that child will not qualify for any meaningful need-based financial aid when college-ready.

Missouri. Had a large branch fall from our tree during heavy storms tonight and impale a small portion of roof above our living room. There is damage to the ceiling and there is a some water intrusion (wet ceiling but no dripping). We’ll try to get it tarped first thing tomorrow.

Right now I’m in the fence as to whether I should file a claim or not. $1k deductible, but probably not interested in claiming unless this is a $5k+ loss. Does that sound like a decent threshold?

The one thing that’s throwing me off is this endorsement on my policy:

MATCHING OF UNDAMAGED ROOF SURFACING OR SIDING

Section I - Additional Coverages is amended to include the following:

Matching of Undamaged Roof Surfacing or Siding

If there is a covered loss to your dwelling or other structure insured on the policy, as a result of Windstorm or Hail, "we" will pay, up to the amount shown in the Declarations, the reasonable cost "you" incur to replace existing undamaged "roof surfacing" or siding due to mismatch between the existing undamaged "roof surfacing" or siding and the damaged "roof surfacing" or siding otherwise covered as a result of the loss.

This coverage only applies:

1. To the dwelling and other structures covered on this policy;
2. If there is a covered loss on the "roof surfacing" or siding;
3. If the "roof surfacing" or siding repaired or replaced as a result of a covered loss does not match existing undamaged "roof surfacing" or siding; or
4. If the mismatch is due to:

a. Wear and tear, marring, scratching or deterioration;

b. Fading, weathering, oxidizing, or color of materials;

c. Texture or dimensional differences;

d. Obsolescence or unavailability of the covered "roof surfacing" or siding; or

e. Inherent vice, latent defect or mechanical breakdown.

The most "we" will pay under this additional coverage is the lesser of:

1. The limit shown in the Declarations for matching of undamaged "roof surfacing" or siding;
2. The actual cost to repair or replace the undamaged "roof surfacing" or siding;
3. The applicable Coverage A limit for losses to the primary dwelling; or
4. The applicable Coverage B limit for losses to other structures.

This is the most "we" will pay during the policy period regardless of:

1. The number of locations or structures insured on this policy; or
2. The number of losses or claims made.

This additional coverage for matching of undamaged "roof surfacing" or siding does not increase the limit of liability that applies to the damaged covered "roof surfacing" or siding.

Per the dec page, the limit for this coverage is equal to my Coverage A Dwelling coverage.

This endorsement doesn’t say anything about slopes or anything like that. Most of our home is two stories but this damage happened on one small slope on the back of our house that is just one story. Assuming a mismatch, they wouldn’t replace the entire roof based on this endorsement, would they? Some of the roof is 12 years old and the rest older (not sure how old). We were planning to replace roof in the next couple years.