Recorded: July 30, 2020 – ABLE accounts are tax-advantaged savings accounts for individuals with disabilities made available by the federal Achieving a Better Life Experience Act of 2014. An ABLE account grows tax-free, and balances up to $100,000 will not be countable for SSI eligibility. The asset limit is even higher for other means-tested public benefits like Medicaid. Individual with disabilities now have the ability to save and build wealth, and friends and family members may also contribute.
This webinar provides an overview of how ABLE Act accounts work and how they can be used to purchase needed assistive technology not covered by other funding. Information about setting up and administering ABLE accounts will be shared.
- Jane Skelton, Esq., Maine Elder Law Firm
- Kathy Adams, OTL, ATP, Director, Maine CITE
- Webinar Handout – MS Word
- ABLE Account information (three documents in one accessible format) from Maine Elder Law Firm
- Special Needs Alliance
- IRS Tax Benefit information
- ABLE National Resource Center
Photo credit: Image licensed through Creative Commons by Taxcredits