Financial Planning

People wishing to help someone with special needs save for their future without jeopardizing the recipient's public benefits can now do so using a "Gift of Independence" card.

Low-income seniors and people with disabilities could save up to $7,500 this year through the Senior Tax Credit for the Elderly and Disabled. ...

Paying for day care is one of the biggest expenses faced by working adults with young children, a child with a disability or a dependent parent, but a tax credit can help these working caregivers.

Among the many questions surrounding ABLE plans is who can open accounts?  Only the person with a disability? Parents?  Other relatives? Friends? ...

Section 529 College Savings Plans can be an excellent investment tool when saving money for a child’s educational expenses. But if the child receives Supplemental Security Income  benefits, families should be cautious.

A new audit finds that the government likely overpaid hundreds of millions of dollars to certain SSI beneficiaries. As many as 77,000 beneficiaries may be forced to pay back some or all of their overpayments.

Trustees of special needs trusts generally have wide discretion in determining whether to distribute funds to trust beneficiaries. But if the person with disabilities receives SSI, care should be taken when using trust funds to pay for housing.

State ABLE savings programs aren't attracting enough account holders to keep afloat financially, according to early projections.  Changes are needed, say disability advocates.  ...

Certain low- and middle-income workers will now be eligible for a tax credit when they contribute to ABLE accounts for people with special needs. ...