Tags archives: ABLE Account
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6 years ago
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For several years it has been clear that ABLE accounts – a new form of tax-free savings account for certain people with disabilities – would not affect a person’s eligibility for important government benefits like Supplemental Security Income (SSI) and Medicaid. But the U.S. Department of Housing a... [read more]
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6 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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ABLE accounts, new tax-free saving accounts for people with disabilities, hold great promise for special needs planning. But among the many questions surrounding ABLE plans is who can open accounts? Only the person with a disability? Parents? Other relatives? Friends?
Created by Congress vi... [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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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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New savings accounts for families of people with disabilities, known as ABLE accounts, are rapidly becoming available nationwide as programs continue to roll out on a state-by-state basis. But this new savings option, as potentially revolutionary as it is, contains many nuances and caveats, and is n... [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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