CA2665 ABLE Account

The game has changed

Imagine you have a disabled client who depends on public benefits, but is also able to work and manages to save more than $2,000. Suddenly, as a result of that savings, their public benefits disappear. How can your client pay expenses not covered by public benefits if he or she can’t have more than $2,000?

While a Special Needs Trust can store money for the long-term, what about saving for more immediate needs? Enter the Achieving a Better Life Experience (ABLE) account. Discover what this new option can mean for those on public benefits in Wisconsin at ABLE Accounts: New Tool for Individuals with a Disability.

Financial flexibility

As long as the beneficiary meets certain criteria, an ABLE account allows an individual with a disability to save up to $14,000 without it counting against the $2,000 limit required to continue receiving public benefits. In Wisconsin, deposits are tax-deductible, earnings grow tax-free, and withdrawals to cover living expenses and other qualified costs are also tax-free.

Dive into the details of ABLE accounts as you learn:

• Basic components
• How to establish an account
• Advantages and disadvantages
• How it differs from and can work together with a special needs trust
• What happens to remaining funds at the beneficiary’s death

An individual can open an account in any state that has an ABLE program with nationwide eligibility. That means your clients can choose the state program offering the most desirable benefits for their situation. Learn how to compare these existing state programs.

In addition, the presenters will share examples of situations where an ABLE account may make sense. You’ll also find out the latest on the long-anticipated POMS SI for ABLE accounts.

Are you ABLE to join us?

Learn how to help individuals and families take advantage of this exciting new benefit by attending ABLE Accounts: New Tool for Individuals with a Disability. Purchase now!