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Planning for Special Needs Individuals

Planning for Special Needs Individuals

September 30, 2019

529a Able Account

529a ABLE accounts are tax-advantaged savings accounts for individuals with disabilities. The primary benefits include:

  • Income earned by the account will not be taxed nor will withdrawals for 'qualified expenses'; a wide array of expenses qualify
  • Anyone can contribute funds to the account
  • Value is excluded from consideration in means-testing to determine eligibility for public benefits

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