Yes, but you need to consider how to make the child a beneficiary. Being a minor means the child can’t inherit the account outright; you’ll need to name a custodian who manages the account until the child reaches the age of majority in your state. Alternatively, you can leave the account to a trust you set up, with the child as the trust’s beneficiary. It’s wise to speak with a knowledgeable advisor to determine the better way for you.
Debt on which a person is not personally liable. In case of nonpayment, the creditor must foreclose on property securing the debt. At-risk rules generally bar losses where there is nonrecourse financing, but an exception applies to certain nonrecourse financing for real estate.