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Mon Jun 17, 2019, 10:17 PM

Mississippi ABLE launches savings program for disabled

TUPELO A new program is opening the door for people with disabilities and their families to save for the future.

This week, the Mississippi ABLE program launched across the state. Similar to a 529 educational savings account, the ABLE account will allow people with disabilities and their families to set aside funds without jeopardizing Social Security and Medicaid benefits. The funds can grow tax-free as long as they are used for disability-related expenses.

Dee Crowe, 19, a Tupelo High School student, signed up with his mom Janna Crowe on Tuesday.

Its the first time weve been able to save for him for the future, Crowe said. We want him to be able to live as independently as possible and hopefully have a job.

Read more: https://www.djournal.com/news/local/mississippi-able-launches-savings-program-for-disabled/article_c806c2fe-61a3-5c2f-8e4b-7d663b4d3e98.html

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Reply Mississippi ABLE launches savings program for disabled (Original post)
TexasTowelie Jun 2019 OP
Ilsa Jun 2019 #1
kimbutgar Jun 2019 #2

Response to TexasTowelie (Original post)

Mon Jun 17, 2019, 10:35 PM

1. Another way around it is to set up a trust,

But a lawyer who knows disability law needs to do it, therefore, it's another expense.

Keeping disabled people broke hurts their quality of life, or makes them financially reliant on someone who may resent them.

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Response to TexasTowelie (Original post)

Tue Jun 18, 2019, 01:00 AM

2. They are doing this in California, now seems someone in Mississippi liked the idea

Especially those who are rich.

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