THE ABLE ACT 101

By Jane M. Fearn-Zimmer, Esquire Jerold E. Rothkoff, Esquire blogged on new legislation passed by Congress called the ABLE Act, which allows  people who can show that they become disabled prior to the age of twenty-six (26) and their families, to enjoy tax-favored savings for a variety of expenses, by establishing an  a savings account which functions similarly to a 529 educational savings account. I am pleased to report that President Obama has signed that legislation, and the Treasury Department is now drafting proposed regulations to implement the law. [...]