Source: Begley Law Group Blog

Begley Law Group Blog THE INTERPLAY BETWEEN ABLE ACCOUNTS AND SPECIAL NEEDS TRUSTS

by Thomas D. Begley, Jr., Esquire, CELA An ABLE account is an account established for the benefit of an individual with disabilities. While most people point to the fact that the earnings on the ABLE account are tax free as the chief benefit of these accounts, I believe that a much more significant advantage is that the individual with disabilities or a family member can control the money in the account. The purpose of the ABLE Act is to permit people with disabilities to save money in and withdraw funds from their ABLE accounts to pay for disability-related expenses, in [...]

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