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ABLE Accounts vs. Special Needs Trusts: Which Is Better for Your Child With a Disability? | Chambliss, Bahner & Stophel, P.C.

ABLE Accounts vs. Special Needs Trusts: Which Is Better for Your Child With a Disability? | Chambliss, Bahner & Stophel, P.C.
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Will Stimulus Checks Put Disabled Clients' Benefits at Risk?


Money deposited in an ABLE account doesn’t count toward the $2,000 cap.
The Senate and House have passed President Joe Biden’s $1.9 trillion stimulus package, a major step in the bill’s journey into law. The Senate voted on March 6 to approve the massive COVID-19 relief plan, which includes $1,400 stimulus checks for many Americans, $350 billion in aid to state and local governments and an extension of federal unemployment benefits. The House voted on March 10 to approve the Senate legislation, and President Joe Biden is expected to sign it into law on March 12.
Many Americans with disabilities are eligible for a stimulus payment and many have worried about how the stimulus payment will impact their eligibility for public needs-based benefits. Fortunately, stimulus payments of this kind aren’t being treated as income by federal programs (or state or local programs that are financed with federal funds) and are disregarded as resources for 12 months (26 U.S ....

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