by Thomas D. Begley, Jr., CELA<\/p>\n
New Jersey has now enacted the Achieving a Better Life Experience Act (\u201cABLE\u201d). It is understood that by Fall this Act will be ready for implementation. The question will then remain: \u201cWhat is the best option? Should the parent intending to set aside money for a child with disabilities establish an ABLE account or a Third Party Special Needs Trust?\u201d Generally speaking, if the individual would be the beneficiary became disabled prior to attaining age 26, then an ABLE account might be considered, if the account will be small. There is very little point to establishing an ABLE account for a significant amount of money. There are two primary advantages to an ABLE account: (1) the income builds up tax free, and (2) the cost of establishing and administering the account is relatively small. The disadvantage is that on the death of the beneficiary any funds (more…)<\/span><\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":" by Thomas D. Begley, Jr., CELA New Jersey has now enacted the Achieving a Better Life Experience Act (\u201cABLE\u201d). It is understood that by Fall this Act will be ready for implementation. The question will then remain: \u201cWhat is the…<\/span><\/p>\n