Springboard Consulting Logo
Google+twitterlinkedinfacebookvimeofeedSkype Me™!
 

Blog

 

A Groundbreaking Victory for Special Needs Parents & People with Disabilities

The U.S. Senate has just passed the Achieving a Better Life Experience Act (#ABLE) -- a groundbreaking victory for parents who have children with special needs and individuals with disabilities and people with disabilities. The ABLE Act allows for savings accounts for individuals with disabilities for certain expenses, like education, housing, and transportation, without jeopardizing certain important federal benefits such as #SSI and #Medicaid. The funds saved in these accounts, if managed correctly, can be another tool in planning for the #lifetime #support needs of an #individual with #disabilities. Up to $14,000 a year can be put in an ABLE account, with a cap of $100,000.  In many ways, it’s similar to the 529 account used for college savings.  The bill must now be signed by the President to become law.

This information should not be construed as “legal advice” for a particular set of facts or circumstances. It is intended only to be a practical guide for participants familiar with this subject. Users should seek appropriate legal advice tailored to address their specific situation.