Magazine article The Exceptional Parent

ABLE Accounts: Achieving a Better Life Experience

Magazine article The Exceptional Parent

ABLE Accounts: Achieving a Better Life Experience

Article excerpt

Passage of HR1205 / S 493, also called ABLE accounts, will have far-reaching positive financial benefits for families who have a member with special needs.

The purpose of ABLE Accounts is to establish a savings instrument for individuals with disabilities and their families that provides them with the same flexibility, portability, and tax advantages that are available to all other Americans and their families.

The legislation is built on the premise that persons with disabilities should be encouraged and supported in their efforts to save in order to create an independent and meaningful life, just as other Americans strive to do. The most basic component of a meaningful life is to become a member of society and have an opportunity to pursue life goals. HR 1205/ S 493 helps to accomplish this goal by providing a vehicle for individuals and their families to save and build assets without jeopardizing the critical support programs provided by federal, state, and local governments. …

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