Related – Special Needs
Aug 12, 2016
Some disabled individuals may now obtain tax-advantaged accounts, similar to 529 college savings accounts, to pay for expenses related to disability. These accounts result from the Achieving a Better Life Experience (ABLE) Act passed by Congress in 2014. Allowable...
Apr 26, 2016
Many disabled individuals in the U.S. receive public benefits from programs that place restrictions on the dollar amount (typically $2,000) of assets a recipient can own. Medicaid and SSI are two examples. Federal and state law allow the establishment of certain...
Feb 16, 2015
A special needs trust holds assets (usually funds) for the benefit of a disabled person without affecting any public benefits the person may receive, such as SSI or Medicaid. Those assets can then be used for the disabled person’s benefit. Current law allows a...