The Dove Firm PLLC

The federal ABLE (“Achieving a Better Life Experience”) Program, signed into law in December, 2014, was created to encourage and assist individuals and families in saving funds for the purpose of supporting individuals with disabilities. The Texas ABLE program, enacted a year later and administered by the Texas Comptroller’s Office, is not yet open for enrollment, but the Texas Comptroller announced on February 16, 2018, that significant progress had been made on implementing the program. The program manager is completing the marketing, enrollment, and record-keeping websites and developing program material. No date has yet been announced as to when the Texas program will be open for enrollment. In the meantime, however, eligible Texas residents can open an account in any state with an active ABLE program that accepts out-of-state residents. Over twenty states currently have active ABLE programs, and most of those programs will accept Texas residents. Of further note, there have been som...

ABLE Accounts are tax-advantaged savings accounts for individuals with disabilities and their families. ABLE accounts were created by federal legislation passed in 2014 (“the ABLE Act”), which recognized the fact that millions of individuals with disabilities rely on public assistance such as SSI and Medicaid for their living expenses, housing, and health care. Eligibility for these public benefits has a strict means test — no more than $2,000 in savings and other assets. Recognizing that the living costs for disabled individuals are often significantly higher than normal, the ABLE Act provides that special ABLE savings accounts can be established by the individuals and their families without jeopardizing eligibility for public assistance.  The ABLE Act limits eligibility to individuals whose disability had its onset before reaching 26 years of age. Annual total contributions made on behalf of any individual are limited to $14,000 at present.  ABLE accounts are to be ad...

The NY Times had a nice article yesterday from the perspective of a medical professional regarding the important role of caregivers.  This article noted the sacrifices many adult children are making to care for aging parents, all the while juggling their own children and other family and work responsibilities.  The article ends with links to some resources, such as support groups for caregivers, and also adds a bright note that in some circumstances being a caregiver can strengthen relationships.  Let us hope that all who are caring for their loved ones reach out for the support they need and are aware of resources available to them.  The full article can be found here: Who Will Care for the Caregivers?    This blog is for informational purposes only.  It is not intended to be and should not be relied upon as legal advice.