Special Needs News | January 2025

Jan 7, 2025 | Special Needs Planning

Special Needs News | January 2025

A Comparison of Special Needs Trusts and ABLE Accounts

Every family has different needs and circumstances when assessing whether a special needs trust or ABLE account is the better option for their loved one with disabilities.

Estate Planning for Parents of Children With Mental Illness

Planning for the future of a child with mental illness involves careful consideration of their unique needs and circumstances

Have a Disability? Avoid IRA Early Withdrawal Penalties

The early withdrawal penalty has been very effective at forcing retirement plan owners to keep money in their retirement accounts, but if a retirement account owner becomes disabled, the IRS will waive the 10 percent early withdrawal penalty.

Deposit Up to $19,000 in Your ABLE Account in 2025

The annual contribution limit for an ABLE account each year typically goes up in line with the annual gift tax exemption.