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Wealth Planning Blog

We provide you with tips and wisdom to help individuals understand and create roadmaps for the distribution and preservation of assets and why wealth planning is so crucial.
 

Wealth Planning Blog
January 22, 2016

Achieving a Better Life Experience ABLE Accounts

What is an ABLE account? An ABLE account is a tax advantaged savings account for individuals with disabilities, which can be used for disability-related expenses on behalf of the designated beneficiary. Although contributions are not tax-deductible, these accounts have several benefits, including: Non-taxed income, One account per beneficiary, Investment strategy can be changed twice yearly, ABLE accounts do not affect SSI, Medicaid or other public benefits. Regulations on these accounts will be written by the Treasury Department in 2015.

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