The ABLE Act: Please Write Your Legislator

Normally I wouldn’t do this, but I urge you to write your state senator and state representative and ask them to support the Achieving a Better Life Experience (ABLE) Act.  It is legislation that directly supports parents and relatives of children with special needs.  It has already been passed at the national level but needs to pass at the state level to be fully implemented.

If you are not aware, in December 2014, the US Congress created subsection (f) of  Section 529 of  the Internal Revenue Code to allow the ABLE Act to follow all the requirements and regulations of a traditional 529 qualified tuition program.  This simply means that parents or relatives can contribute $13,000 yearly toward a child with special needs and that money can grow tax-free and be withdrawn tax-free for assistive technology, health expenses, transportation expenses, education expenses, and many other needs.

In addition, funds from tradition 529 plans can rollover to ABLE plans and vice versa.  For instance, if your gifted child gets into a car accident at 16 years and suffers severe brain damage, you will not be penalized for the money you saved for the college expenses.  If the ABLE Act passes, you will be able to use those funds to help make your child’s disabled life a little more comfortable.  Or you may have a child that is mentally capable but physically challenged.  Now you can pay for college as well as for mobility assistance.  And it’s all tax-free.

Please write your senator or represenative or even the President of the United States at the link that follows: http://capwiz.com/state-al/home/

01 Write Your Senator