News & Analysis as of

Savings Accounts Disability

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

Flaster Greenberg PC

Special Needs Trusts Update

Flaster Greenberg PC on

Means-tested public benefit programs such as Medicaid (which provides health insurance and payment for skilled care andother medical expenses), Supplemental Security Income (SSI), the Supplemental Nutritional Assistance...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

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

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

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

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