ABLE Accounts, Changes and COVID-19

While each individual and family situation is different, we all share a common concern around our financial future during the COVID-19 crisis. This situation affects everyone’s lives at all levels and will continue to impact household finances for a lengthy period of time. Depending on your own specific and unique circumstances, your need to respond will vary. In this blog, the ABLE National Resource Center will share actions for you to consider, resources, stories and […]

Adults with Special Needs Housing Alternatives

Fifty years ago, most people with even moderate special needs were institutionalized throughout their adult lives.  Now, thanks in part to societal changes and decades of litigation, most people with special needs, including those with very severe special needs, live in some type of community setting.  In fact, the U.S. Supreme Court has specifically ruled that people with special needs who receive government benefits must be housed in the least restrictive possible setting.  Here are […]

A Financial Planning Guide for Parents of a Child with Special Needs

Raising a child with special needs can be one of the richest experiences life has to offer, but it is also one of the most costly. According to Autism Speaks, raising a child with autism costs on average $60,000 a year. Of course, this figure varies depending on the type and severity of your child’s condition. In some cases, it can cost even more. For new parents, such a drastic change in circumstances can be […]

Tax Planning for Families of Special Needs Children

The information in this article is educational in nature and is not to be considered tax advice. Please contact a qualified tax professional to discuss how these concepts may or may not apply to your personal situation. Summary of Tax Cuts and Jobs Act (TCJA) as it Relates to Families The Tax Cuts and Jobs Act of 2017 (TCJA) is the big tax reform bill that passed at the end of 2017.  In addition to […]

How to Receive Financial Compensation via Medicaid to Provide Care for a Loved One

It is very common for family, especially spouses and adult children, as well as close friends to serve as informal (unpaid) caregivers for loved ones who are frail and elderly, disabled, or suffer from dementia, such as Alzheimer’s disease. In fact, according to the Family Caregiver Alliance (FCA), nearly 80% of adults who live at home and receive long-term care assistance depend solely on relatives and friends. Unfortunately, the role of informal caregiver isn’t an […]