Starting July 4, 2026, parents can open a brand-new type of tax-advantaged account for their children called a Trump Account. With a $1,000 pilot contribution from the U.S. Treasury for children born between 2025 and 2028, plus the ability to contribute up to $5,000 per year, these accounts offer a meaningful new way to build long-term wealth for your family.

In this episode, we break down everything you need to know: how Trump Accounts work, the two phases that govern the rules, what you can contribute and how each type of contribution is taxed, the investment restrictions during the growth period, and the important planning opportunities and pitfalls that arise in the year the beneficiary turns 18.

We also cover where Trump Accounts fit in the recommended order of priority for child savings alongside Roth IRAs, 529 plans, and custodial accounts, and walk through three important concerns every family should consider before opening one: the child's full access at age 18, state tax differences, and a potential gift tax filing requirement.

Thanks for listening!

For more details, check out our blog post https://pw-wm.com/learn/financial-planning/trump-accounts-what-every-parent-needs-to-know/