We congratulate our colleague John Nadworny for being a resource for and quoted in an article about financial planning for people with special needs in Saturday’s New York Times (March 28, 2015). To read the article, click here.
We include the following disclosure as we do not control the information in this article. The opinions voiced in this material are for general information only and not intended to provide specific advice or recommendations for any individual, nor intended as tax or legal advice. There is no assurance that the techniques and strategies discussed are suitable for all individuals or will yield positive outcomes. Investing involves risk including loss of principal.
Prior to investing in an ABLE account investors should consider whether the investor's or designated beneficiary's home state offers any state tax or other benefits that are only available for investments in such state's ABLE program. Please consult with your tax advisor before investing.
Note that when distributing for non-qualified expenses, the pro-rata portion of the earnings attributable to the non-qualified expenses are subject to tax plus a 10 percent penalty.
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