The Achieving a Better Life Experience (ABLE) Act allows qualified individuals and/or their families to create an ABLE savings account without impacting their eligibility for needs-based public benefits programs like Supplemental Security Income (SSI) and Medicaid.
As a national settlement planning firm, incorporating the use of ABLE accounts into settlement planning is an important expertise. If you are an attorney representing a disabled client who is on Medicaid, or if you’re a mass tort lawyer settling an inventory of cases from which many of the clients may be on Medicaid, working with a settlement planner who understands ABLE accounts — and can advocate for your client in every state — is an important distinction.
An ABLE account can be established and used in conjunction with a special needs trust or by itself, giving the disabled person more flexibility in savings as well as spending. As a resource to the disability community and their advocates, this page provides direct access to each state’s programs and some analysis about the major features included in most. Click here for a breakdown of the basics of ABLE accounts.