ABLE accounts are a nice, flexible way to supplement the usefulness of a Special Needs Trust. But certain limits apply. by Steve Hartnett The Achieving a Better Life Experience (ABLE) Act allowed accounts to help people with disabilities (and their families) save and pay for disability-related expenses. ABLE allows states to create tax-advantaged savings programs for eligible people with disabilities. Distributions from ABLE accounts are tax-free if used for qualifying disability … [Read more...] about ABLE Accounts Complement Special Needs Trusts
Plan Now for the Incredible Shrinking Exclusion
There is a great deal of legislation pending and much is uncertain. But this much is certain, the estate tax exclusion will go down by half beginning 2026 under current law. Now is the time to plan for your clients and yourself. by Steve Hartnett The estate tax exclusion is currently at an all-time high of $11.7 million. This consists of the permanent exclusion of $5 million, adjusted for inflation from the 2011 base year, and then doubled by the Tax Cuts and Jobs Act. However, the Tax … [Read more...] about Plan Now for the Incredible Shrinking Exclusion
