Achieving a Better Life Experience (“ABLE”) accounts allow individuals with disabilities (currently occurring before 26 years of age) and their families to set aside money without those funds counting towards their public benefits. Annual contributions may not exceed the annual gift tax exclusion ($18,000 for year 2024). Funds in an ABLE account can be spent on “qualified disability expenses.”
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- Long-Term Care Planning for Children with Disabilities January 2024
- Divorce and Children with Special Needs November 2023
- The Top 5 Things to Know When Your Child With Disabilities Turns 18 October 2022
- Regulations Governing ABLE Accounts April 2022
- Achieving a Better Life Experience (ABLE) – How to Open an ABLE Account March 2017
- The ABLE Act – A New Tool for Special Needs Planning April 2015