Could the ABLE Act Offer New Options to Everyone at the Settlement Table?
 

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It began as a kitchen table discussion in Northern Virginia among parents with children afflicted by Down syndrome. Years later after considerable bipartisan legislative effort, President Barack Obama signed the Achieving a Better Life Experience (ABLE) Act into law this past December.

The ABLE Act allows disabled people and their families to set up accounts similar to popular 529 plans where they can save for disability-related expenses that won’t be included in their eligibility for Medicaid or Supplemental Security Income Benefits (SSI).

The implications for personal injury settlements are still coming to light as the IRS just published guidelines on ABLE for public review and comment. What is clear, however, is that this presents yet another planning vehicle to help create an effective settlement plan for an injured child. As litigating parties seek to reach a compromised settlement, knowledge of planning opportunities like ABLE accounts may be of great value to everyone around the bargaining table. To learn more about ABLE and where it might come into play for you ...

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