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LMR Advisors, LLC

 

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Protecting Your Disabled Child's Income

| September 07, 2015
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Congress hasn’t seemed like the most productive group of individuals at times this last year, but one good thing our elected officials have accomplished is passing the Achieving a Better Life Experience (ABLE) Act. Currently, permanently disabled individuals can have only $2,000 in cash and assets before they begin losing government benefits, but the ABLE Act allows disabled individuals to save up to $100,000 in a 529-like account to pay for education, employment support, housing, legal fees, and a host of other life-improving expenses. If you have a disabled family member or friend – or if you’re disabled yourself – check out the details, courtesy of autismspeaks.org. The IRS is keeping us up-to-date with ABLE-related news, as well.

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