ABLE Accounts and Special Needs Trusts: Ensuring eligibility for supplemental security income (SSI) and Medicaid

For individuals with disabilities or their caregivers, navigating financial planning while ensuring continued eligibility for essential public benefits like Supplemental Security Income (SSI) and Medicaid can be daunting. This presentation will present information regarding both ABLE accounts and special needs trusts (SNTs) which offer valuable solutions. While SNTs have been a traditional option, ABLE accounts provide a simpler alternative. Notably, the passage of SECURE Act 2.0 in 2022 extended the age limit for establishing an ABLE account, making it accessible to a broader range of individuals. While there are differences between SNTs and ABLE accounts, under certain circumstances it might…