Financial Planning

Visitors to SpecialNeedsAnswers can now use a directory of state ABLE account programs. ...

A surprising number of people  including many people with disabilities -- do not take advantage of the Earned Income Tax Credit. The IRS is encouraging potential recipients to apply.

While most workers’ compensation benefits are fully tax exempt at the federal, state and local level, this is not always the case where the beneficiary is also receiving Social Security Disability Insurance (SSDI) benefits. ...

Most special needs trusts give their trustee wide authority to respond to unforeseen circumstances. But for those concerned about placing some checks and balances on the trustee’s authority, one possible option is a care committee.

A financial planner explains the considerations that must go into calculating how much will adequately fund a special needs trust, and offers a sample budget.

Under the new tax law, people whose student loan debt is discharged due to disability will no longer be taxed on the discharged income, potentially saving them tens of thousands of dollars.

Among the changes in the Tax Cuts and Jobs Act, signed by President Trump on December 22, is a provision that could provide some temporary relief for families with high medical expenses.

The amount that can be deposited in an ABLE account each year without jeopardizing public benefits will rise from the current $14,000 to $15,000 starting in 2018. ...

ABLE accounts, new savings plans for people with special needs to save for disability related expenses, may be used for an even broader array of products and services than many beneficiaries may realize.  ...