Investments and Trusts



College Savings

CornerBank offers savings options for tackling college expenses. Your investment professional will work with you to develop a plan that fits your goals and needs. Please get in touch to discuss your goals to begin creating your personalized college savings plan.

Coverdell Educational Savings Account

529 College Savings Plan

This account allows for nondeductible contributions to an account that features tax-free withdrawals for a child’s primary, secondary or post secondary education expenses. College savings plans allow for nondeductible contributions and tax deferred accumulations of earnings.  The Distributions are tax-free for post secondary educational expenses.
The annual contribution limit is $2,000 per child and is subject to Modified Adjusted Gross Income adjustments.
Distributions for education expenses are tax-free.
There is no limit on the annual contributions; however the 529 College Savings Plan is capped at $350,000 per beneficiary.  Anyone can contribute to the account.  Annual gift tax should be considered when making contributions to a 529 plan. Before investing in a 529 plan, investors should carefully consider whether the investor’s or beneficiary’s home state offers any state tax or other benefits available only from that state’s 529 plan. 

 

Disclosures

Securities and insurance products are offered through Cetera Investment Services LLC (doing insurance business in CA as CFGIS Insurance Agency), member FINRA/SIPC. Advisory services are offered through Cetera Investment Advisers LLC. Neither firm is affiliated with the financial institution where investment services are offered. Investments are: *Not FDIC insured *May lose value *Not financial institution guaranteed *Not a deposit *Not insured by any federal government agency.  Advisory Services may only be offered by Investment Adviser Representatives.  Located at: 900 Main St, Winfield, KS 67156, 620-221-5076

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