Achieving a Better Life Experience (ABLE) accounts are now available in New Jersey. This is a positive development, but ABLE accounts are not singular tools for long-term financial and benefits planning for a person with a disability. Due to the various limitation of ABLE accounts, it will typically be much more advantageous for families to create a special needs trust, particularly for inheritances.
Archive for the tag 'SSI'
The question often arises: “Can I still receive SSI if I work?” The simple answer is yes. But of course, in the world of disability nothing is as simple as it seems. An individual may work, but he or she must understand how working affects SSI benefits.
The ABLE Act creates tax advantaged savings accounts for individuals with disabilities, which in most cases will not jeopardize means tested government benefits such as Medicaid and Supplemental Security Income (SSI). However, there are a number of limitations.
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Hinkle, Prior & Fischer attorneys are available to speak to your organization or constituents on a wide variety of relevant disability topics. 