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Protecting Your Disabled Child's Income

September 07, 2015

Congress hasn’t seemed like the most productive group of individuals at times this last year, but one good thing our elected officials have accomplished is passing the Achieving a Better Life Experience (ABLE) Act. Currently, permanently disabled individuals can have only $2,000 in cash and assets before they begin losing government benefits, but the ABLE Act allows disabled individuals to save up to $100,000 in a 529-like account to pay for education, employment support, housing, legal fees, and a host of other life-improving expenses. If you have a disabled family member or friend – or if you’re disabled yourself – check out the details, courtesy of The IRS is keeping us up-to-date with ABLE-related news, as well.