The ABLE Act of 2014 and What You Need to Know

The ABLE Act, or Achieving a Better Life Experience Act of 2014, was signed by President Obama on December 19th, 2014.  The Able Act allows individuals with a disability, or their family, to establish a tax exempt savings account to pay for certain qualified expenses.  It’s a similar idea to a 529 College savings plan and, in fact, will be called a 529 – ABLE account.  This is a huge win for families and individuals with disabilities.

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