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 […]
Federal Tax Cut Law Affects Seniors and Those With Disabilities
The Tax Cut and Jobs Act became law at the very end of 2017, and affects taxes for the current year. Many commentators have dissected how the tax cut law will affect tax rates, and business taxes. That’s not all the Act contains, however. A number of changes will particularly affect our older clients or […]
Special Needs Trust Can Receive Child Support Payments
VOLUME 24 NUMBER 19 A divorced couple has a child with a disability, and one spouse is paying child support to the other. But what happens when the child turns 18? Does anyone still pay child support? If so, to whom? And what effect does any child support have on the (now adult) child’s eligibility […]
Two Words (“The Individual”) Make a Big Difference
DECEMBER 12, 2016 VOLUME 23 NUMBER 46 Congress may be in a historic post-election lull, but the end of the year can sometimes see surprising, bipartisan progress. With passage by the U.S. Senate of the Special Needs Trust Fairness Act (a very small part of the 21st Century Cures Act) a significant change has been […]
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 […]
