Category archives: ABLE Account
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5 years ago
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Parents want their children to be taken care of after they die. But children with disabilities have increased financial and care needs, so ensuring their long-term welfare can be tricky. Proper planning by parents is necessary to benefit the child with a disability, including an adult child, as well... [read more]
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5 years ago
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People wishing to help someone with special needs save for their future without jeopardizing the recipient's public benefits can now do so using a Gift of Independence gift card.
Funds in these gift cards can be placed directly into a person’s ABLE account, which is a relatively new and growi... [read more]
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6 years ago
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Since the passage of the Achieving a Better Life Experience (ABLE) Act in 2014, tens of thousands of people with disabilities have opened up new, special tax-free savings accounts to save for disability-related expenses. These accounts, popularly known as ABLE accounts, allow many people with disabi... [read more]
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6 years ago
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When personal injury lawsuits are settled, the underlying settlement figure may be less than initially meets the eye due to attorneys’ fees, expenses and other costs. To ensure the resulting settlement best protects the plaintiff's long-term financial interests, as well as their health and quality o... [read more]
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6 years ago
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In the past two years, nearly every state in the country has passed legislation enabling people with disabilities and their families to open new savings accounts, modeled after popular 529 college savings plans, to save for disability related expenses.
But early projections indicate that many of ... [read more]
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6 years ago
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Supplemental Security Income (SSI) is a federal program that helps people with disabilities and very low incomes pay for food, clothing and shelter. SSI is often confused with Social Security Disability Insurance (SSDI). One of the main differences between the two programs is that SSDI is available ... [read more]
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7 years ago
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Families taking advantage of ABLE savings accounts will have a little more flexibility in planning for special needs as a result of the new Tax Cuts and Jobs Act signed into law by President Trump on December 22, 2017.
As we previously discussed, ABLE accounts, created by Congress via the pas... [read more]
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7 years ago
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ABLE accounts are a great new savings tool for individuals with disabilities, but not all people with disabilities are eligible to open these accounts. The rules for determining eligibility are for the most part uncomplicated, although one requirement is proving controversial.
Created by Con... [read more]
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7 years ago
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In passing the Achieving a Better Life Experience (ABLE) Act in 2014, Congress created a new way for potentially millions of people with special needs to save for disability related expenses without jeopardizing their eligibility for federal public benefit programs.
In fact, these savings pla... [read more]
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7 years ago
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We have previously written about the pros and cons of ABLE (Achieving a Better Life Experience Act of 2014) accounts. These accounts allow many people with disabilities or their families to establish tax-free savings accounts that won’t affect their ability to qualify for, or remain on, government a... [read more]
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