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A Rapidly Evolving Tool for Special Needs Planning

Here's how ABLE accounts can be used alongside other tools to effectively protect the assets of special needs clients.

By Helen Modly, CFP, CPWA, and Tiffiny Dimel, CFP

ABLE accounts, also called Disabled 529s or 529A, were created as part of the Stephen Beck Jr. Achieving a Better Life Experience (ABLE) Act of 2014. This act amended Section 529 of the IRS code to include tax-advantaged accounts for individuals with disabilities that would not immediately disqualify the account owner from receiving benefits from means-tested public assistance programs.

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