With the 2026 tax season approaching, Treasury Secretary Scott Bessent revealed details about the new Trump accounts, which children can open and manage. These accounts, akin to traditional IRAs, can be used for education or home purchases with tax advantages.

Children born between 2025 and 2028 will receive a $1,000 federal grant. Companies like BNY Mellon and BlackRock are matching this grant for employees’ children. States are considering additional top-ups for these accounts, potentially tied to financial literacy courses. The Trump administration plans to offer financial literacy seminars.

Read more at Yahoo Finance: The details advisors need to know