First, if you create a college account for your grandchild and there is a later divorce, that account may be designated in the divorce judgment to be first used for payment of the child's college expenses, before the other spouse's obligation to pay college expenses kicks in. In fact, that spouse may get a free ride if there is enough in the child's account to fully pay for college.Tip: Don't do an outright gift, if your child has divorce on the horizon, put college money for a grandchild in a trust drafted by a lawyer to give you or a successor trustee control over when and how money may be …