ABLE Account Age Adjustment a Bright Spot in Omnibus Passage
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Category Archives: ABLE Accounts
ABLE Accounts vs. Special Needs Trusts: Why Not Have It All?
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If you have a child with disabilities, it is crucial to set money aside for the child’s future. At the same time, you need to consider your child’s access to public benefit programs such as Medicaid and Supplemental Security Income (SSI), as well as the state and federal tax implications. The tw
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An ABLE Account Could Be a Great Place for Your $1,400 Relief Payment
President Biden has signed the $1.9 trillion American Rescue Plan into law. Among its benefits are $1,400 checks that are already landing in the bank accounts or mailboxes of most Americans to help them weather the economic downt
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Bill Reintroduced to Greatly Expand Eligibility for ABLE Accounts
More than six million people whose disabilities arose later in life will be able to open ABLE savings accounts if a bill just reintroduced in Co
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Four Questions to Help You Choose the Right Professional Trustee for Your Special Needs Trust
Parents or other family members establishing a special needs trust for their child often want to name a professional -- usually a bank, trust company, attorney, certified public accountant or non-profit -- as one of the trustees of the trust in order to take advantag
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ABLE Accounts Offer Financial Independence for Beneficiaries Who Can Manage Their Own Money
One area that particularly vexes trustees of special needs trusts is how to get beneficiaries what they need without running afoul of the strict rules for public benefits like Supplemental Security Income (SSI). Monitoring how money
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IRS Issues Final Regulations for ABLE Accounts
The Internal Revenue Service (IRS) has released final regulations covering tax-free savings accounts that allow people with disabilities and their families to save and pay for disability-related expenses without jeopardizing eligi
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An Introduction to ABLE Accounts
When Congress passed the Achieving a Better Life Experience (ABLE) Act in 2014, it was a game-change
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