President Biden has signed the $1.9 trillion American Rescue Plan into law. Estate planning lawyers are advising opening an ABLE account as among its benefits are $1,400 checks that are already landing in the bank accounts or mailboxes of most Americans to help them weather the economic downturn caused by the pandemic. Recipients with disabilities…
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 gift card. Funds in these gift cards can be placed directly into a person’s ABLE account, which is a relatively new and growing savings tool for people with disabilities. “ABLE” stands…
Families taking advantage of ABLE savings accounts will have a little more flexibility in planning for special needs as a result of the new Tax Cuts and Jobs Act signed into law by President Trump on December 22, 2017. As we previously discussed, ABLE accounts, created by Congress via the passage of the Achieving a…
