ABLE Accounts: 10 Things You Should Know

ABLE Accounts: 10 Things You Should Know What is an ABLE account? ABLE Accounts, which are tax-advantaged savings accounts for individuals with disabilities and their families, will be created as a result of the passage of the Stephen Beck Jr., Achieving a Better Life Experience Act of 2014 or better known as the ABLE Act. The beneficiary of the account is the account owner, and income earned by the accounts will not be taxed. Contributions […]

ABLE Accounts and Special Needs Trusts: A Side-by-Side Review

The availability of ABLE accounts is imminent. Many people have anticipated this new way to save money for a person with special needs. But does it take the place of a special needs trust? “A special needs trust and an ABLE account have some similarities, but one doesn’t negate the need for the other,” says Chris Collier1, CLU, ChSNC, who is a Special Care Planner and has earned the Chartered Special Needs Consultant designation.2 He’s […]