Jansen and Ovilia have a new grandchild, Evette. They want to set up an education account for her. They are very

wealthy, high$-$income clients, and the family has traditionally gone to exclusive and expensive colleges, which they hope

Evette will do$,$ too. Evette's parents are also wealthy, high$-$income people. What would be a good recommendation for

Jansen and Ovilia?

Set up a $529$ account for Evelyn. It will allow you to contribute a large lump sum initial contribution which will grow

tax$-$deferred.

Set up a Coverdell Education Savings account for Evelyn. It will allow you to contribute an annual amount which will grow tax$-$

deferred.

Buy EE savings bonds. The interest is tax$-$free if used for qualified education expenses.

Gift the money directly to Evelyn.