Both educational 529 accounts and ABLE accounts can be useful tools in saving for the future for someone with a disability.
Put together, an ABLE account AND a special needs trust can accomplish what neither can do alone. As one piece of a larger plan, an ABLE account can be part of your strategy to meet your individual needs now and in the future.
If you have a minor child with special needs, SSI benefits and Medicaid coverage may be available to your child. It may be worth crunching numbers and reviewing SSA’s charts and formulas to see if your child may qualify. If
What is a Trust? In Louisiana, a trust is defined as a relationship between three people. The relationship is created when Person A gives something to Person B for the benefit of Person C. Person A is known as the
It is common for a parent to want to be trustee of a special needs trust benefitting her child, especially when the parent is the one creating or funding the trust. There are many reasons why this makes sense. It
A troubling provision of the new federal health care bill impacts vital services for special education students. Health Care Bill Inconsistent with IDEA The Individuals with Disabilities Education Act (IDEA) guarantees all children a free and appropriate education in the
You can compare ABLE accounts in different states to determine if this new planning tool is right for you. The Achieving a Better Life Experience (ABLE) Act, passed in 2014, allows people with disabilities to save money in an account
Trustees of special needs trusts wear many hats. They act as investment manager, bookkeeper, distribution manager, benefits advocate, and financial planner. Often trustees are in constant communication with the beneficiary and/or the beneficiary’s caregivers regarding many aspects of the beneficiary’s
Since Louisiana passed its version of ABLE Act in 2014, we have been waiting for word on when Louisiana ABLE accounts would become available. While we wait, other states’ ABLE accounts have come online. Some states allow people who do not live in that state to open an ABLE account there. Just like choosing a bank for your checking account, you can choose which state you want to hold your ABLE account. Many of us have been waiting to see what Louisiana’s program will look like before we decide where to open an account.
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