Tuesday, January 12, 2016
2:00pm – 3:00pm EST
Beth L. Barnhard, Esq.
Attorney at Law with Rubenstein, Meyerson, Fox, Mancinelli, Conte & Bern, P.A.
In December of 2014, the Achieving a Better Life Experience Act, more commonly known as the “ABLE Act” was passed. The ABLE Act permits the establishment of special bank accounts, similar to 529 College Savings Plans, for individuals who became disabled prior to attaining the age of 26. The funds in these ABLE accounts are not included in the disabled individual’s countable resources for purposes of determining eligibility for means-tested government benefits such as Supplemental Security Income (SSI) and Medicaid. ABLE accounts are not expected to be available until the end of 2015, as the proposed bill is only making its way through the New Jersey Legislature now.
View the ABLE Act: How it Will Affect You Slideshow here: ABLE Act Power Point