Planning for Life

Karen Mariscal

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ABLE Accounts: A Little Deflating

Posted by Karen Mariscal on February 9, 2015

By Karen B. Mariscal

It’s as if the ball was stolen out of our hands at the 1 yard line. (Remember how the Patriots won the Superbowl in 2015?)

On December 19, 2014, President Obama signed into law the Achieving a Better Life Experience (ABLE) Act, enabling parents of children with significant disabilities to set aside funds to help pay their children’s expenses, tax-free, and without affecting their eligibility for public benefits. It is set up like a 529 account for the costs of education. The special needs community has been advocating for this for years, and it certainly sounds like a victory. But reading the fine print, it is not clear that these accounts will be of much help to parents or their children with disabilities.

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Topics: special needs planning

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