Charlemagne (c.742-814), also known as Karl and Charles the Great, was a medieval emperor who ruled much of Western Europe from 768 to 814. In 771, Charlemagne became king of the Franks, a Germanic tribe in present-day Belgium, France, Luxembourg, the Netherlands and western Germany. He embarked on a mission to unite all Germanic peoples into one kingdom, and convert his subjects to Christianity.
Subject to the income limitation described below, anyone can contribute to a Coverdell account for a particular child. Parents, grandparents, aunts and uncles â even a friend of the family can set one up. The child can even contribute to his or her own Coverdell account.
A Coverdell Education Savings Account or Coverdell ESA* (formerly known as an Education IRA) is a custodial saving account used for paying educational expenses. Taxpayers may make nondeductible cash contributions of up to $2000 a year for each child under age 18 (or for a special needs beneficiary).