Special Needs Financial Planning

Special Needs Financial Planning and ABLE Accounts

Chartered Special Needs Consultant Debbie Nieman provides an overview of the steps to take and factors to consider when planning for the special needs of your loved one with FOP. Debbie has been a part of providing education around financial planning for FOP families since presenting at the 2018 FOP Family Gathering in Baltimore. Her 2021 presentation (below) highlights the four pillars of a comprehensive plan: 

  1. Financial planning
  2. Government Benefits
  3. Legal Planning
  4. Life Care Planning

While Debbie provides a basic overview of ABLE accounts in her talk you can learn more about these tax-advantaged savings account for individuals with disabilities from our ABLE Accounts Webinar.

In 2022, ABLE Account holders have something to celebrate - the new annual contribution limit just increased to $16,000! ABLE accounts (or 529A accounts) have specific rules and requirements for owning, contributing to and using funds in the account, especially if you also receive SSI monthly payments so it's important to do your homework before starting.

Learn more about ABLE Accounts and the "Able to Work" Act


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