Tax-Free 529 Savings Plans For Disabled Children and Young Adults

Posted on January 21, 2015 // 2 Comments

This won’t apply to everyone, but it could be significant if it does. I didn’t know about this until recently.

The Achieving a Better Life Experience (ABLE) Act used the structure of 529 college savings plans to create similar tax-sheltered accounts for the benefit of caring for disabled children and young adults. In addition to healthcare, qualified expenses would include education, housing, transportation, and employment support. The legislation has passed, but it doesn’t look like any states have actually created plans that you can open yet. More info here.

Filed Under: Family, Investing //

Comments

  1. Suresh says
    January 22, 2015 at 5:41 am

    Jonathan,

    Thank you very much for sharing this link, I have a son with disability , once implemented this would help me save some tax free dollars for his future.

    Reply
  2. Dan says
    January 22, 2015 at 6:52 am

    Obama is such a puppet. If anyone watched his address on Tuesday it was just another “show” for all his sheeple.

    Reply

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