Trump Accounts are a new tax-advantaged savings vehicle for children, and what families need to know before opening one is still taking shape. GHPIA Chief Operating Officer Sebrina Ivey, CPA/PFS, was selected to join the AICPA Personal Financial Planning podcast for a dedicated episode on Trump Accounts, offering her perspective on what families and their advisors need to understand before making any decisions.
The episode covers:
- Planning actions to consider before the tax-free window closes
- What Trump Accounts are and how they differ from 529 plans, UTMA/UGMA, and ABLE accounts
- Contribution, investment, and trustee rules during the growth period
- Key decisions at age 18 and how estate and tax planning converge
- How Trump Accounts compare to traditional irrevocable trusts
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