How are ABLE Account Distributions to Heirs Taxed?
Question: Must a sibling or nephew heir of an of the remaining balance in an ABLE account have to pay taxes on the funds received? The ABLE custodian does report the distribution to the IRS on [...]
Can Child’s SSI Benefits be Placed in an ABLE Account?
Question: Can some or all of an infant’s SSI benefits be directly deposited into the infant’s ABLE account? Would Medicaid disregard those resources in determining eligibility in Virginia? [...]
Should I Set Up a Special Needs Trust or ABLE Account for My Inheritance?
Question: I am having some negative luck with getting advice about trusts. I am on SSDI. My disability, juvenile rheumatoid arthritis began when I was three years old. I am now 62. I applied for [...]
