Hi Everyone,
I hope you and your families are having a great summer!
I wanted to send a quick personal update before diving into a new planning opportunity that I think many families may find valuable.
I got married this past May! My Wife Julia & I then spent our honeymoon in Japan! We got to visit Tokyo, Kyoto, and Hakone. It was truly an unforgettable trip filled with incredible food, beautiful scenery, and a chance to unplug and recharge before getting back to helping you.
I wanted to share a few photos from the wedding & trip below!
Financial Planning Update: Introducing Trump Accounts
As we just celebrated July 4th this past weekend. One of the newest planning opportunities available for families is the recently introduced Trump Account, a long-term investment account designed to help children begin building wealth at an early age.
Here are some of the highlights:
- Children under age 18 with a valid Social Security number are eligible to have a Trump Account established.
- Eligible children born between 2025 and 2028 receive a $1,000 contribution from the U.S. Treasury.
- Family members, friends, and even employers can collectively contribute up to $5,000 annually.
- The account is designed for long-term investing and wealth accumulation.
A Few Additional Details
• Only one Trump Account may be established per eligible child.
• Parents or guardians can establish the account online or by filing IRS Form 4547.
• The account belongs to the child while a parent or authorized adult manages the account until adulthood.
• There is no cost to establish the account.
Our Planning Perspective
Whenever Congress introduces new planning opportunities, one of our jobs is determining where they fit, not just whether they’re available. For some families, a Trump Account may be an excellent complement to a 529 plan, custodial investment account, or other long-term savings strategy. For others, different planning tools may still be more appropriate.
As always, we’ll help you determine what makes the most sense based on your family’s goals, tax situation, and long-term financial plan. If you’ve recently welcomed a child or grandchild or are expecting one, please reach out. We’d be happy to discuss whether a Trump Account should be incorporated into your family’s planning.
http://www.opesprivatewealth.com/
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