Coverdell Education Savings Accounts

A Coverdell Education Savings Account is an excellent way to put aside money for a child to use for education expenses. This is a type of tax-advantaged savings account designed specifically for paying qualified education expenses.

Contributions are non-deductible and distributions are tax free if used to pay for the account beneficiary's qualified expenses for costs of kindergarten through 12th grade at private schools, or at a college or trade school.

There is a $2,000 annual limit per beneficiary. Anyone, whether related to the beneficiary or not, may contribute to the Coverdell Education Savings Account, however there are limits to contributions based on income level. Any funds remaining in the account after the beneficiary reaches the age of 30 must be rolled over to another Coverdell Education Savings Account benefiting another family member. Otherwise, taxes may be assessed.


To find out more about college planning, please contact our Certified Financial Planner (CFP®): John V. Lyons, Infinex Investment Executive, 508-234-8112 Ext. 1009, or Email.


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Investment and insurance products and services are offered through INFINEX INVESTMENTS, INC. Member FINRA/SIPC.  UniVest Financial Services is a trade name of UniBank. Infinex and UniBank are not affiliated. Products and services made available through Infinex are not insured by the FDIC or any other agency of the United States and are not deposits or obligations of nor guaranteed or insured by any bank or bank affiliate. These products are subject to investment risk, including the possible loss of value.