ABLE Account Information

The list of things you can spend Achieving a Better Life Experience (ABLE) account funds on is long, and keeps growing.  ...

The maximum amount that can be contributed each year to an ABLE account for a person with disabilities just rose $1,000 to $16,000.  The figure had been stuck at $15,000 since 2018.  ...

ABLE accounts and special needs trusts can accomplish the same goals, but each has its advantages and limitations. The best approach, depending on the beneficiary, may be to use them in tandem.

More than six million people whose disabilities arose later in life will be able to open ABLE savings accounts if a bill just reintroduced in Congress, the ABLE Age Adjustment Act, becomes law.

Recipients with disabilities who rely on government benefits may want to consider putting some or all of the $1,400 relief money into an ABLE account.

ABLE accounts are proving to be less of a savings vehicle and more of a game-changer that allows beneficiaries of programs like SSI to pay for their own living expenses and achieve an unprecedented level of independence.

The IRS has released final regulations on tax-free savings accounts that allow people with disabilities to pay for disability-related expenses without jeopardizing government benefits.

If an ABLE account has been set up for a person with special needs, what happens to the account if the beneficiary no longer qualifies as “disabled” according to IRS regulations due to medical improvement or inaccurate diagnosis?...

When an SSI beneficiary finds out that they will receive an inheritance, their first reaction may be to refuse it. But this refusal, also known as a "disclaimer," might worsen things for the beneficiary.