The beneficiary of an ESA must be either under the age of 18 or of a special need.
As of tax year 2008, the maximum yearly contribution to an ESA for a single beneficiary was $2,000.
A beneficiary may have more than one ESA opened, but the total contributions to all accounts opened in his name must not be more than $2,000 per year.
While you won't receive a tax deduction for contributing to an ESA, the money in the account will not be taxed until it is withdrawn.
If the money taken from the account is not more than the beneficiary's approved education expenses at a qualified school, then that money also will not be subject to taxation.