Job Developing for People with Disabilities during Times of Increased Unemployment ABLE Accounts and Economic Empowerment and Financial Self-sufficiency

Consumers are finding it harder and harder to find affordable accessible housing. Everyone deserves a home to call their own allowing ABLE account holders and contributors the right to own a home of they're own is a foundation for Independence .Making a home safe and accessible makes sense for everyone .Keeping PWD's healthy and Happy in our communities .

ABLE Accounts provide a new way for qualified individuals to save money without negatively impacting federally-funded public benefits. The asset limit under an ABLE Account depends on the state. For people who receive SSI, the asset limit is $100,000.

A critical step in the success of ABLE accounts is the education of consumers and their advocates. A muti-faceted, multi-phased communication system is a necessity. As a parent, I know that it is very difficult to "hear" new information the first time it is shared, as well as how difficult it is for service providers to maintain currency with all the new opportunities which become available. Establishing straightforward... more »

Social Security appoints Rep Payees - and expressly states that a Power of Attorney does NOT grant Rep Payee status. So many Organizational Representative Payees read the "account ownership" provisions as 'the beneficiary cannot open an ABLE Account because it has already been determined that they cannot manage their own funds'.
Later in the law it goes on to mention those with 'signature authority' without expressly... more »

You can now make your benefits work for you, instead of working around your benefits.

Special Needs Trusts (SNTs) may be more flexible as ABLE accounts used for housing affect SSI and Medicaid, but SNTs only affect SSI (though in some states they're linked.) Also families need to know that if the beneficiary of an ABLE account dies, any remaining funds will be used to pay back the government for Medicaid expenses. But ABLE accounts are less costly to set up. Some legal sources recommend having both... more »

Funds contributed to an ABLE account can be distributed from an ABLE account to purchase products and services are “qualified disability expenses.” A qualified disability expense must relate to the designated beneficiary of an ABLE account to assist him/her in increasing or maintaining their health, independence, and/or quality of life. The owner of the ABLE account makes decisions about when to withdraw funds and for... more »

The earlier an ABLE account is open, the greater opportunity over a longer period of time for contributions being made to an account to grow as a result of income generated from investment choices. Here are some first steps you or someone you know with a disability can take to consider opening an ABLE account: 1) Explore the ABLE National Resource Center http://www.ablenrc.org/ 2) Confirm eligibility to open an account;... more »

I agree that a good way to get the word out for families is through rehabilitation services by the state as someone previously mentioned. (Which if you live Louisiana, as I do, their budget always seems to be frozen or cut.) I would also suggest contacting your state's Parent Information Center (PTI) and request a training (either in person, webinar, or both) on the ABLE Act. This link will take you to a PTI locator... more »

ABLE accounts should be used to help those achieve financial freedom with passive income. It is disheartening that many try to find work but some could be out of work for several years. Employers will then think they are unemployable. What can be done to educate those on how to make money that doesn't require a W-2? ABLE Accounts should be able to buy investments that will help those learn the value of serving others... more »

If you have an able account you can use it for your transportation purposes whether it be taking UBER to work or you need to purchase an accessible vehicle! Which could cost a lot of money in the long run.

The ABLE National Resource Center invites potential ABLE participants, their families, and all other ABLE stakeholders, to attend a free webinar on May 24, from 2:00-3:30 PM EST, focusing on understanding saving and investor choices. http://www.ablenrc.org/events/understanding-saving-and-investor-choices-able-account-owners

The webinar will answer questions such as: What is the difference between a checking account,... more »

Probate Courts typically lean towards Restricted accounts to protect the assets of disabled minors who funds need to be monitored and utilized only for the benefit of the protected person. A discussion on the merits of using an ABLE account to either replace or augment a restricted account or a conservator bonded account, would benefit those who want to maximize the financial assets of the disabled protected persons under... more »

If you are serious about having people use your ABLE account. offer something like 10% interest on available account balance. I receive outrages loan and credit card offers. daily in my personal mail. Everyone is offering "cash back" and reward deals but no one has offered serious interest on account balances. Without offering high interest on savings/ checking accounts you won't be able to sell your project to individuals... more »

How to roll over or move money from a 529 account into an ABLE account?