Planning for Life

SNT vs. ABLE Account: Which Makes More Sense for You

Posted by Harry S. Margolis on October 15, 2019

By Harry S. Margolis

ABLE Accounts and Special Needs Trusts - Margolis -and-Bloom

We have prepared a handout to assist beneficiaries of Supplemental Security Income and other public benefits programs to determine whether they're better off using ABLE accounts or special needs trusts, or both.


Both ABLE accounts and SNTs permit the beneficiary to maintain eligibility for public benefits programs will being the beneficiary of funds held in reserve, but both also have their advantages and drawbacks. Here are a few of them:

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Topics: special needs planning, supplemental needs trusts, Special Needs Trust, ABLE Accounts, Attainable Savings Plan, Supplemental Security Income

When to Use an ABLE Account

Posted by Harry S. Margolis on January 29, 2019

By Harry S. Margolis

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ABLE accounts were created by the Achieving a Better Life Experience Act of 2014 as an alternative to special needs trusts and to share the benefits of 529 plans for people who are unlikely to pursue higher education. They only go part way towards those goals but nevertheless can be very useful in providing flexibility around very strict public benefit rules, especially those of the Supplemental Security Income (SSI) program.

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Topics: special needs planning, Special Needs Trust, ABLE Accounts, Attainable Savings Plan

ABLE Opens in Massachusetts

Posted by Anthony Bushu on May 10, 2017

By Karen Mariscal 

disabled man.jpgGood news: On May 10th Massachusetts launched its ABLE program, named The Attainable Savings Plan, to allow people who become disabled to save money, tax-free, and have more financial freedom than they have had in decades. 

An ABLE account allows donors to put up to $14,000 into the account per year, to grow tax-free. Even more important than the tax benefits, the money in the account, up to $100,000, is not counted when determining eligibility for Supplemental Security Income (“SSI”) and MassHealth.  In other words, a person can have up to $100,000 in an Able Account and still be considered to have less than $2,000 in assets, thereby qualifying for SSI and MassHealth.

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Topics: SSI, ABLE Accounts, Attainable Savings Plan

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