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Here are the important aspects of an “ABLE” account, which is an important new tool in the world of special needs planning:

  • Available to any disabled individual who was diagnosed with their condition prior to age 26.
  • Tax-free growth.
  • The funds can only be used for disability-related expenses.
  • The account will not be counted as

This question is posed to me pretty often at networking events. Unfortunately, as is the case with  many queries in the legal profession, the answer is not a simple one. And I’m sure my colleagues in the Elder Law bar would find it difficult to come up with a definition that we all agree on.