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.
Coverdell Contribution Limits. Each year, only $2,000 can be contributed for each beneficiary, regardless of who is making the contribution. For example, if your child's uncle puts $2,000 in a Coverdell ESA for the child, you can't contribute to an ESA for the child.In addition, you can't contribute to a Coverdell ESA if your income exceeds the annual limits, according to IRS Publication 970.or example, if you put $2,000 in a Coverdell and $13,000 in a 529 plan for your son, you're over the annual exclusion. If you're over the annual limit, you won't owe any gift tax until you've used up your lifetime gift tax credit, but you will have to file a gift tax return.