News & Analysis as of

ABLE Accounts Special Needs Trust

Chambliss, Bahner & Stophel, P.C.

Mitigating the Impacts: Sunsetting the Tax Cuts and Jobs Act

The Tax Cuts and Jobs Act (TCJA) took effect on Jan. 1, 2018, and impacted personal income taxes, small businesses, estate tax rules, capital gains rules, special needs accounts, and much more. The TCJA is scheduled to sunset...more

Husch Blackwell LLP

Special Needs Planning: Special Needs Trusts and ABLE Accounts

Husch Blackwell LLP on

Estate planning can be a daunting task for individuals and families. The stakes can be high. The decisions are often numerous. Family dynamics frequently come into play. However, for those living with special needs or those...more

Chambliss, Bahner & Stophel, P.C.

Annual Contribution Ceiling for ABLE Accounts Rises and More States Add Programs

The maximum amount that can be contributed each year to an ABLE account for a person with disabilities rose $1,000 to $16,000 on January 1, 2022. The figure, which is tied to the inflation-adjusted value of the IRS’s gift...more

Chambliss, Bahner & Stophel, P.C.

The Perils and Pitfalls of Do-It-Yourself Special Needs Planning

Among the costs of caring for a dependent with special needs are the fees for professional advice. Some families are tempted to save on these costs by setting up a plan on their own. This can be attractive because so much...more

Chambliss, Bahner & Stophel, P.C.

ABLE Accounts vs. Special Needs Trusts: Which Is Better for Your Child With a Disability?

Any parent of a child with a disability has likely heard of a “special needs trust.” As information has become more easily available online, a simple Google search for “special needs trust” is likely to garner hundreds of...more

Chambliss, Bahner & Stophel, P.C.

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...more

Chambliss, Bahner & Stophel, P.C.

Making Gifts for Persons Who Have Special Needs

The end of the year is approaching and the holidays will soon be in full swing, a time when many people are getting ready to make gifts to their family members. Not only is this a great way to show love and support to...more

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