College Planning Please call the office to learn more about the Texas UTMA Account, Coverdell Education Savings Account, or the CollegeAmerica 529 Plan. Click below to watch the video. Prior to investing in a 529 Plan, investors should consider whether the investor's or designated beneficiary's home state offers any state tax or other state benefits such as financial aid, scholarship funds, and protection from creditors that are only available for investments in such state's qualified tuition program. Withdrawals used for qualified expenses are federally tax free. Tax treatment at the state level may vary. Please consult with your tax adviser before investing.