What Are ABLE Accounts and When Are They Used?

The ABLE account (or Achieving a Better Life Experience) program is likened to an Educational IRA with some differences.  An ABLE account can be set up for a Special Needs Individual who has had a disability diagnosis established before the age of 26.[1]   Special Needs Individuals who apply for disability benefits have to show that they have resources under $2k and any income that comes to them which puts them over that limit even by a dollar, could potentially trigger an ineligibility the following month.  Up to now, such individuals and their families could only set up First or Third Party Special Needs Trusts to hold any excess funds.  […]

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