Make sure you are making the most of the benefits available for your clients or their family members who have disabilities by tuning in to this episode of the PFP Section podcast. ABLE account experts Anita Kelley, with the Office of Alabama State Treasurer, and Dante Allen, Executive Director of CA’s ABLE Act Board, answer the following questions:
What are ABLE accounts, how do they work, and who is eligible?
How do the state programs differ and how are they similar?
What should clients know to make sure they don’t put other benefits like SSI and SSDI in jeopardy?
How do beneficiaries avoid taxes and penalties on distributions?
Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.
Access volume 4 of the Adviser’s Guide to Financial & Estate Planning which includes chapter 44 specific to ABLE accounts, including final regulations effective in 2021.
Follow the slides as Anita and Dante discuss the benefits of ABLE accounts. Be sure to look for the additional resources included at the end of the handout.
This episode is brought to you by the AICPA’s Personal Financial Planning Section, the premier provider of information, tools, advocacy and guidance for professionals who specialize in providing tax, estate, retirement, risk management and investment planning advice. Also, by the CPA/PFS credential program, which allows CPAs to demonstrate competence and confidence in providing these services to their clients. Visit us online at www.aicpa.org/pfp to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program.
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