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.
Any individual may contribute a maximum of $2,000 a year to a Coverdell ESA for the benefit of any person under age 18. But the contribution limit is phased out for contributors with a modified adjusted gross income between $95,000 and $110,000 for single persons and between $190,000 and $220,000 for joint filers.ut there is no reason that Jocelyn can't make a $2,000 gift to Spanky, who can then open his own Coverdell ESA with $2,000, since he's well under the income limitations (assuming his lemonade stand doesn't rake in more than $95,000 a year).