News & Analysis as of

Special Needs Trust Savings Accounts

Chambliss, Bahner & Stophel, P.C.

ABLE Account or Special Needs Trust – Which One Is Best?

Saving money for a loved one with a disability can be challenging because of the $2,000 resource limit for eligibility for means-tested governmental benefits like Supplemental Security Income (SSI) and Medicaid. In the past,...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

Dickinson Wright

ABLE Accounts - Savings Tool for Special Needs Individuals

Dickinson Wright on

ABLE (Achieving a Better Life Experience Act) accounts have become a popular savings tool for special needs individuals since the ABLE Act became law in December of 2014. Now that such accounts have been in existence for few...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

Adler Pollock & Sheehan P.C.

The ABLE account: A good alternative to a special needs trust?

Late last year, Congress passed, and the President signed, the Achieving a Better Life Experience (ABLE) Act. The act authorizes a new, tax-advantaged savings account, modeled after the Section 529 college savings account,...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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