The federal tax code allows you to set up an account for anyone, of any age, including yourself. Specific state programs may be more restrictive, so this is an issue that you need to have clarified when you are comparing different plans.  For example, a few programs place limitations on how long the money can be in the account.  Most often an account is set up for a child or grandchild.  A few states do limit how long an account can remain open.  Generally the beneficiary cannot be a trust, an estate, a corporation, or entity other than an individual.