by Thomas D. Begley, Jr., Esquire, CELA<\/p>\n
Congress enacted and the President has signed legislation known as the Achieving a Better Life Experience (ABLE) Act of 2014.387<\/a> The Act is modeled on 529 Plans and will provide tax-favored accounts for individuals with disabilities to pay for qualified expenses. Before these accounts can be implemented, two things must happen: (1) the federal government must adopt regulations governing the accounts, and (2) state must either create their own ABLE accounts or contract with other states to do so. It is likely that these accounts will operate in a manner similar to existing 529 accounts.<\/p>\n The advantages of ABLE accounts are as follows:<\/p>\n by Thomas D. Begley, Jr., Esquire, CELA Congress enacted and the President has signed legislation known as the Achieving a Better Life Experience (ABLE) Act of 2014.387 The Act is modeled on 529 Plans and will provide tax-favored accounts for…<\/span><\/p>\n\n