BY TINA HAY Many millennials leave high school and even college without any academic insight into personal finance or investing. 1. Millennials are interested in starting and running their own businesses. Whether it’s within the next few years, or later on in life, startup culture has become more and more appealing. Resources for how to fund a new company or raise money for a new venture are very popular. Many young adults are trying to […]
Category: Money
A New Option For Saving For Your Child’s Future: Able Account
BY LAUREN AGORATUS, M.A. Many families have heard about “special needs trusts” (SNTs) for their children with disabilities (see Resources.) SNTs allow parents to save funds yet have it not affect their child’s eligibility for benefits by saving a certain amount. However, some families can’t afford an attorney to set up a SNT. Now the ABLE (Achieving a Better Life Experience) Act provides an alternative or even supplement for SNTs. HOW DOES AN ABLE ACCOUNT […]
Good Planning Protects Benefits And Creates Assets
BY ROB WRUBEL CFP®, AIF® A winning team needs to be established. thIs means finding a financial planner, a lawyer and an accountant each of whom understands the unique challenges and planning opportunities available to families like ours. A friend walked in to my office one day. He carried a leather briefcase. He put his heavy brown case on my desk then paused with his fingers over the brass clasps. He smiled and looked at […]
Introduction of ABLE Accounts in Some States this Summer
An ABLE account is designed to ease financial strains faced by individuals with disabilities by making tax-free savings accounts available to cover qualified expenses such as education, housing, and transportation. This summer, certain states will begin introducing ABLE accounts, providing special needs individuals and their families another resource through which to save and invest for the future. Signed into law in 2014, the ABLE Act and associated accounts are modeled after 529 education savings plans […]
Planning For The Future:Ensuring Your Children’s Care through Elder Law
BY AMY BOULWARE Knowing your family will be safe and secure, even when you may not be around to care for them, is a concern nearly every parent faces—a concern only amplified for parents of children with special needs. But it’s not an issue without an answer. Elder law— which specializes in special needs trusts, estate planning, incapacity procedures and more — is a powerful tool that can not only ensure your peace of mind […]