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Using ABLE Accounts to Create Self-Reliance
Manage episode 318107671 series 3306506
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Episode #22
Using ABLE Accounts to Create Self-Reliance
Guest Name: Idaho State Treasurer Julie Ellsworth
About the Guest: Treasurer for the Great State of Idaho
In this episode, Idaho State Treasurer Julie Ellsworth shares valuable information about ABLE accounts (Achieving a Better Life Experience Act of 2014). These accounts allow eligible persons with disabilities to save up to $100,000 to build self-reliance and assets without losing their related government benefits. Treasurer Ellsworth discusses how ABLE accounts can change the lives of millions of people with disabilities and their families in Idaho and across the country.
- State treasurers can affect local property taxes through lower bond rates
- ABLE accounts allow those with disabilities opportunities to save money above typical limitations
- Age limits for ABLE accounts eligibility
- State Independent Living Councils promote choice and self-determination for those with disabilities
- The value of ABLE accounts to the state taxpayers
- How families and others can help grow ABLE savings accounts
- ABLE accounts function like a college savings 529 account, being codified under the same federal code
- There are no tax benefits for contributing to another person’s ABLE account
Links referred to in the episode, and how to connect with the guest, Idaho State Treasurer, Julie Ellsworth:
Idaho State Treasurer’s Office
Treasurer’s Financial Freedom Resources
Idaho State Independent Living Council
IRS Information on ABLE Accounts
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