The Achieving a Better Life Experience (ABLE) Act of 2014 will soon permit individuals to establish STABLE accounts in their estate plan for disabled family members. These accounts will allow family members to save money to be used throughout life concurrently with other government benefit programs for disabled family members. The earnings in these accounts will grow tax-free as long as they are utilized for qualified expenses. In order to establish a STABLE account, the individual must have been disabled before 26 years old and entitled to benefits under the SSI or SSDI programs.
See James Contini, James Contini Column: The Use of STABLE Accounts for the Estate Planning for Disabled Individuals, Times Reporter, July 3, 2016.
Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this article to my attention.
