We've been talking about it for a long time and now it's a reality! The ABLE Act finally made it through Congress and was signed by President Obama on December 19th. Here is an article that shows what can happen when fathers get involved.
If you have any questions about what happens next, the National Disability Institute has put together a nice list of the Top 10 things you need to know about the ABLE Act. Among the topics are:
1. What is an ABLE account?
2. Why the need for ABLE accounts?
3. Am I eligible for an ABLE account?
4. Are there limits to how much money can be put in an ABLE account?
5. Which expenses are allowed by ABLE accounts?
6. Where do I go to open an ABLE account?
7. Can I have more than one ABLE account?
8. Will states offer options to invest the savings contributed to an ABLE account?
9. How many eligible individuals and families might benefit from establishing an ABLE account?
10. How is an ABLE account different than a special needs or pooled trust?
Please go to the NDI's webpage to find out more...
By John Goodrich 06 January 2015