Question

Should high-net-worth families contribute to both 529 plans and Trump Accounts?

Answer

Trump Accounts and 529 plans serve different purposes and can complement each other. However, because Trump Account contributions and other annual gifts to the same beneficiary count together toward the $19,000 annual exclusion threshold, high-net-worth families making gifts across multiple vehicles should coordinate their giving strategy with a wealth advisor.

About Mercer Advisors

We exist so you don’t have to worry about money. For more than 40 years, we’ve taken the sophisticated, time-tested approach that many ultra-high net worth individuals use to help manage their financial lives and made it accessible to more families.

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