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THE ABLE ACT IN MICHIGAN

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Q: What Is The ABLE Act? What Does It Do?

A: The ABLE Act was a piece of legislation passed by Congress in December of 2014. ABLE is an acronym for Achieving Better Life Experience and applies to those with special needs, both minors and adults. Basically, it allows certain people with disabilities to have a special savings account for disability-related expenses without losing their eligibility under SSI, Medicaid and other public benefits.

The Michigan plan is administered through the Michigan Department of Treasury

Q: Can An Eligible Individual Have More Than One ABLE Account?

A: No. The law only allows for one, and it depends on how each account is set up. For example, the Michigan Department of Treasury is responsible for setting up the ABLE account, but you’re only eligible to set up one such account.

Q: What Is The ABLE Tax Advantage?

A: The ABLE tax advantage applies to an individual with special needs or is disabled and specifies that all contributions to that individual’s account will not be taxable. Although it is not tax-deductible for the person who is making the contribution to the account, it’s not taxable to the recipient.

Q: How Much Money Can Be Deposited Into An ABLE Account?

A: The maximum allowed each year, as of 2016, is $14,000. There is also an aggregate that can be accumulated up to a total of $100,000, which is the maximum allowed over future years. Annually, at present, though, the maximum contribution is $14,000.

Q: How Can An ABLE Account Actually Be Used?

A: The ABLE account can be used for approximately 10 different categories.

  • Education: Funds can be used to assist someone with a disability in furthering their education at the college- or trade-level.
  • Housing: This includes housing for a disabled individual trying to live independently.
  • Transportation: This could be for a motor vehicle or equipment to assist the individual in so using it.
  • Employment training and support.
  • Assistive technology and personal support services, such as equipment needed in the home to assist with standing and walking.
  • Health and medical services: This would be anything for prevention and wellness.
  • Financial management and administrative services: This could include the services of a fiduciary, such as a financial planner, to oversee the individual’s account and ensure that the funds will be available for the future.
  • Legal fees, such as expenses for oversight in monitoring the individual’s legal affairs.
  • Funeral and burial expenses.
  • There is a catch-all category that includes any expenses that may be identified from time to time in the future that could be related to the needs of the disabled individual.

What our clients say about us

We appreciate the opportunity to help you get the benefits you deserve

Words don’t do justice when it comes to explaining how appreciative I am of Attorney Cliff Weisberg and his staff. They handled my case with care during a very stressful time in my life. Knowing that they were working for me definitely assisted with putting my mind at ease. They were eager to help and answer all my questions. They always responded in a timely manner. They walked me through the whole process, got the results I needed, and even offer support after. Thank you so much and I would highly recommend you all.

Miya - Jalynn

I wanted to take a moment to share my experience with Cliff Weisberg my attorney and his team. Cliff is the most caring & compassionate person. He not only takes time to really listen, he puts his heart and soul into your case. I am so blessed to have him as my attorney! Thank you Cliff and staff at Social Security Counseling Center.

Tina Kostera

Mr. Weisberg is  extremely knowledgeable and helpful when it comes to navigating SSI  procedures. If it wasn't for Mr. Weisberg I am confident I never would have  been accepted for disability.

James Luckey

Cliff was awesome to work with. He was very knowledgeable and had tremendous practical experience with the process. In my specific case it took the full process with a few nuanced twists and turns to achieve a successful outcome. I would highly recommend him and his organization. Thanks Cliff!

John Janci

I was very satisfied with Cliff Weisberg and his staff very helpful in handling my case. Thank you so much I highly recommend his services.

Doug Hall

Mr. Weisberg and his staff were excellent with my case and super friendly.  I've already recommended 2 other people to them.  Highly recommend them in your case to get your benefits

Richard Riggs