There is a new federal program adopted in Georgia for the benefit of disabled beneficiaries—Achieving a Better Life Experience, or ABLE. The program is designed to help families save funds for maintaining and improving a disabled individual’s health, independence, and quality of life. The money in this account grows tax-free, and the money can be distributed at any time for a qualified withdrawal. Additionally, these ABLE funds will not affect the disabled individual’s eligibility for Medicaid and Supplemental Social Security benefits. ABLE accounts are becoming a state-by-state program, so it is now time to consider these accounts for a qualified beneficiary in your life.
See George, ABLE Is Ready; Are You Willing?, Fox+Mattson, P.C., December 5, 2016.
