How We Actually Use ABLE Act Accounts
We’ve written and talked about ABLE Act accounts before. But we’d like to revisit the subject with a very practical update. Let’s answer the question: how do we actually use ABLE Act accounts in our practice today? Start with a recap: what’s ABLE? Before we get practical, though, we do need to review the concepts. […]
ABLE and SECURE Act Sequels
It was right there in the year’s name: 2022. Lots of sequels. See all those 2s in the year? We had some of the same experience in legal circles — particularly in the ABLE And SECURE Acts In the hours before Christmas, Congress passed the Consolidated Appropriations Act of 2023. President Biden quickly signed it […]
The ABLE Act in Arizona
Now that the ABLE Act in Arizona is a little more than a year old, it might be a good time to review the rules, when it makes sense to open an ABLE Act account and what limitations you might face. Our podcast episode this week also deals with ABLE Act accounts. Between our two […]
What Is a “Qualified Disability Expense”?
In 2014, Congress adopted the Achieving a Better Life Experience Act (better known as ABLE). That new law formally introduced the concept of a “qualified disability expense”. But what kind of expenditure is a qualified disability expense? And does the term mean anything outside of ABLE? Definition of qualified disability expense The ABLE Act itself […]
Arizona Gets Its Own ABLE Act Accounts
You probably already know a thing or two about the ABLE Act. It offers new flexibility and autonomy for people with disabilities. Now residents of Arizona can open an ABLE Act account with the new AZ ABLE program. What is ABLE? The Achieving a Better Life Experience Act passed Congress in 2014. It permitted states […]
When You Might Want to Open an ABLE Act Account
SEPTEMBER 13, 2016 VOLUME 23 NUMBER 34 Now that ABLE Act programs have been set up in several states, you might wonder if it’s time for you to set up an account for yourself or a family member with a disability. How can you figure out whether ABLE is right for you? We’ll try to […]
ABLE Act Update: Arizona Residents Could Have Access Next Month
DECEMBER 21, 2015 VOLUME 22 NUMBER 47 We’ve written before about the Achieving a Better Life Experience (ABLE) Act and the possibility that Arizona might get its own version adopted in the next legislative session. Now comes a pleasant surprise from Washington: Arizonans with disabilities won’t have to wait for our legislature to act. Last […]
Good News: The IRS Simplifies Its Proposed ABLE Act Rules
NOVEMBER 23, 2015 VOLUME 22 NUMBER 43 The Achieving a Better Life Experience (ABLE) Act initially looked like it would provide important opportunities to people with disabilities. Although much work was left to the Internal Revenue Service, the Social Security Administration and individual states, advocates hoped that it might open up a simple choice for […]
The ABLE Act — How Will You Be Able to Use It?
DECEMBER 29, 2014 VOLUME 21 NUMBER 47 Last week we told you about the passage of The Achieving a Better Life Experience Act, and tried to spell out some of the important details. But until we can all see actual cases, it might be hard to figure out how to use the new law (and […]
ABLE Act Passes — We’ll Tell You What It Means
DECEMBER 22, 2014 VOLUME 21 NUMBER 46 The Achieving a Better Life Experience Act passed the U.S. Senate last week, and President Obama signed it over that same weekend. But what does it mean for people with disabilities, and for their families? How will you be able to use the accounts authorized by the ABLE […]
