Atlanta, Georgia – Slowik Estate Planning is urging Georgia families to proceed carefully before restructuring college savings or inheritance plans around newly created federal “Trump Accounts,” a child-focused investment vehicle established under Internal Revenue Code § 530A.
The accounts, authorized as part of the Invest America Act provisions in the One Big Beautiful Bill Act, are designed to allow long-term, stock market–based savings on behalf of U.S. children under 18. While the law promises tax-deferred growth and a one-time $1,000 federal contribution for certain children born between Jan. 1, 2025, and Dec. 31, 2028, the attorney at the Atlanta estate planning firm says the structure raises complex planning and compliance questions that remain unresolved.
“Trump Accounts sound simple, but they sit at the crossroad of income tax, gift and estate planning, financial aid, and in some cases disability benefits,” said Jake Slowik of Slowik Estate Planning. “Families who treat these as a plug-and-play solution may face unexpected reporting burdens or conflicts with their existing plans.”
Under current guidance, Trump Accounts may be opened before July 4, 2026, but private contributions are generally not permitted until that date. During a “growth period” that typically runs until the end of the year in which a child turns 17, funds are invested in a diversified U.S. stock index fund and grow tax-deferred. Later withdrawals are taxed under rules similar to traditional IRAs, and funds may be used for general purposes rather than being limited to education costs.
Unlike 529 college savings plans, § 530A currently does not expressly state that contributions are treated as completed, present-interest gifts.
“Without clear statutory language paralleling 529 plans, even relatively modest contributions could trigger a federal gift tax reporting obligation,” the Slowik attorney said. “Most families would not owe immediate tax, but hiring professionals to prepare a Form 709 return can be time-consuming and expensive.”
Slowik Estate Planning also notes that Georgia’s existing Path2College 529 Plan remains governed by a mature regulatory framework. Contributions may qualify for a Georgia income tax deduction, and long-standing federal rules address gift treatment, rollovers, and qualified distributions. Trump Accounts, by contrast, offer no current Georgia tax deduction and depend heavily on future IRS and Treasury guidance.
Families with children who receive Supplemental Security Income face additional complications.
“For special needs families, the interaction among Trump Accounts, ABLE accounts, special needs trusts, and SSI rules is especially fragile,” Slowik stated. “Missteps could jeopardize benefits or create repayment issues. The existence of a new tax-favored account is not, by itself, a reason to overhaul an otherwise sound plan.”
Founded by Jake Slowik, a Harvard Law School graduate and longtime Atlanta resident, Slowik Estate Planning guides families through the complexities of wills, trusts and legacy planning. Jake’s personal experience with loss and his passion for service drive his commitment to helping others achieve lasting peace of mind. The firm is dedicated to making the estate planning process clear, approachable and focused on the well-being of every client and their loved ones.
Slowik Estate Planning
5555 Glenridge Connector Suite 620
Sandy Springs, GA 30342
(404) 461-9703
Press Contact : Jake Slowik
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