The ABLE Act
Families who have a family member with a disability know that the cost to care for the loved one can mount very quickly. To address these concerns, President Obama passed the Achieving a Better Life Experience Act in 2014. It allows families to create a special tax-exempt savings account to pay for the myriad of different “qualified disability costs”, including but not limited to transportation, building a ramp to get into a house, therapy, and housing. Each state is responsible for adopting this law, and Illinois adopted it in 2015. To find out more about this act and how it may benefit your family, please refer to the following resources: http://naminorthernillinois.org/the-able-act-law-and-the-10-things-you-must-know-about-the-able-act/ http://realeconomicimpact.org/public-policy/able-act.aspx