An Advisor's Guide To Opening 530A "Trump Accounts", With Ben Henry-Moreland

With consumers now able to open new 530A "Trump Accounts", financial advisors are likely to get questions from clients about how they work and how to actually open them. In this episode, Kitces Senior Financial Planning Nerd Ben Henry-Moreland shares his firsthand experience opening Trump Accounts for his own children, providing practical insights into a process many advisors will soon be guiding clients through. Listen in to learn how Trump Accounts compare with 529 plans and custodial accounts, who stands to benefit most from them, and the unique rules around contributions, government funding, investments, and rollovers. Ben also explains how while the individual steps in the account-opening process are relatively simple, the proccess as a whole could trip up clients, suggesting a valuable role for advisors in supporting them along the way. To access the related Nerd's Eye View blog post on this topic and to access this episode's trascript and show notes, visit: www.kitces.com/FAT1 To learn more about becoming a Kitces.com premier member, click here