Expert Insight from William W. Erhart & Catherine B. Read:

ABLE Account: The Necessary Adjunct to a Meaningful Special Needs Plan

Ask most family members assisting a disabled adult if they’ve heard of an ABLE account. Most will say yes. Ask them what an ABLE account is, and many will respond, “We’re not sure.”

An ABLE account is not a supplemental needs trust. But it is a vital adjunct to one or more supplemental needs trusts.

An ABLE account is a bank account funded with cash. An ABLE account may offer savings, checking and investment options. It may have a debit card linked to it.

The person with a disability, and/or family or friends, may contribute to the ABLE...

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