News & Analysis as of

Disability ABLE Act

Chambliss, Bahner & Stophel, P.C.

What Happens to an ABLE Account If the Beneficiary Is No Longer Disabled?

It is possible that an individual, once diagnosed as a person with special needs, sometime in the future will no longer qualify as “disabled” according to IRS regulations. The individual’s condition might have improved...more

Chambliss, Bahner & Stophel, P.C.

ABLE Accounts Still Slow to Gain Traction

Only a small fraction of those eligible for new savings accounts for people with disabilities are using them, according to disability advocates. If participation doesn’t pick up – either through better promotion or...more

Flaster Greenberg PC

ABLE Savings Registry – The Gift that Keeps on Giving

Flaster Greenberg PC on

ABLE accounts are special, tax qualified disability savings vehicles for seriously disabled individuals, who had a qualifying disability incurred prior to age 26. As long as the rules of the ABLE program are complied with, a...more

Chambliss, Bahner & Stophel, P.C.

Who Can Set Up the ABLE Account?

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...more

Flaster Greenberg PC

New Jersey ABLE Program Offers a New Savings Option for the Disabled

Flaster Greenberg PC on

Earlier this month, New Jersey joined the list of states with an ABLE Plan. An ABLE account is a special tax-favored disability savings account designed to help individuals living with a severe disability save and manage...more

Chambliss, Bahner & Stophel, P.C.

Who May Open an ABLE Account?

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...more

Adler Pollock & Sheehan P.C.

ABLE accounts benefit disabled family members

For families with disabled loved ones who are potentially eligible for means-tested government benefits such as Medicaid or Supplemental Security Income, estate planning can be a challenge. One potential tool is to open a...more

Adler Pollock & Sheehan P.C.

Insight on Estate Planning - October/November 2017

In This Issue: - Social Security benefits When is the right time to begin receiving payments? - Planning ahead after a divorce - ABLE accounts benefit disabled family members - Estate planning pitfall: You chose...more

Bowditch & Dewey

Families Can Use a Tax-Advantaged ABLE Account to Save for Disability Expenses

Bowditch & Dewey on

Governor Charlie Baker recently announced the launch of a state sponsored Achieving a Better Life Experience (ABLE) account program that has been long awaited by disabled individuals and their families. This program serves as...more

Miles & Stockbridge P.C.

Coming Soon To A State Near You! Savings Plan for Disabled Marylanders: The MD ABLE Program

In order to qualify for certain need based federal and state benefits in connection with a significant disability, individuals typically cannot have assets exceeding $2,000.00. While some assets are exempt from this...more

Tucker Arensberg, P.C.

Pennsylvania officially launches its PA ABLE Savings Program on April 3, 2017.

Tucker Arensberg, P.C. on

Pennsylvania officially launches its PA ABLE Savings Program on April 3, 2017. A PA ABLE account gives individuals with qualified disabilities (Eligible Individuals), and their families and friends, a tax-free way to save for...more

Chambliss, Bahner & Stophel, P.C.

ABLE Accounts Begin to Spread Across Nation

A law signed by President Obama in 2014 allows people with disabilities who became disabled before they turned 26 to set aside up to $14,000 a year in tax-free savings accounts without affecting their eligibility for...more

Partridge Snow & Hahn LLP

Tax-Advantaged Savings Accounts for Individuals with Special Needs Finally Available in Rhode Island

In 2014, new federal legislation was enacted to help relieve the financial strain often faced by so many individuals with disabilities or special needs. The Achieving a Better Life Experience Act (“ABLE Act”) was signed into...more

Tucker Arensberg, P.C.

Update to the Pennsylvania ABLE Act

Tucker Arensberg, P.C. on

As originally referenced in a January 2015 blog post (Link to post), the Pennsylvania ABLE Act was enacted in April to provide people with disabilities and their families with a way to plan for a financially secure future...more

Cole Schotz

IRS Eases Administrative Oversight of Able Accounts

Cole Schotz on

As discussed in earlier blog posts, the Achieving a Better Life Experience (ABLE) Act was signed into law in December 2014. Under the ABLE Act, a so-called ABLE account can be established for a disabled individual. The...more

Mintz - Public Finance Viewpoints

ABLE Programs and Beneficiaries Boosted by Helpful Guidance from IRS and Social Security Administration

The Stephen Beck, Jr., Achieving a Better Life Experience Act of 2014 (ABLE Act), one of the few recent examples of bipartisan cooperation on a new category of tax and budget expenditure, is both well-intentioned in its...more

Baker Donelson

Spotlight On Alabama: A Busy Tax Year in Review

Baker Donelson on

It has been a busy year for developments in Alabama state taxation. In this tax alert we review many of the significant developments that have occurred over the last 12 months....more

Cole Schotz

The ABLE Act

Cole Schotz on

Although the Achieving a Better Life Experience Act (or ABLE Act) was signed into law on December 19, 2014, many states have been waiting to offer ABLE accounts authorized by the Act until the IRS published regulations. The...more

Bond Schoeneck & King PLLC

Trust and Estate: Passage of The ABLE Act Could Provide Additional Planning Options For Disabled Individuals (2/15)

In late December 2014, President Obama signed into law the "Achieving a Better Life Experience Act of 2014" (known as the ABLE Act). The Act extends the 529 college savings account rules to allow for similar, tax-free "ABLE...more

Mintz - Public Finance Viewpoints

Who is “Disabled” under ABLE?

The recently-enacted federal ABLE statute provides a long-awaited vehicle for tax-exempt investing to meet future disability-related expenses of disabled individuals. Although new Section 529A of the Internal Revenue Code is...more

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