Joseph’s family was one of the first to open an Illinois ABLE account two years ago. His mom shared her experience with accessABLE to help teach other families who have children with disabilities about Illinois ABLE accounts.   Here is her story of how Illinois ABLE is helping her prepare her son for a bright financial future.

JosephMalleraccessABLE:  Why did you open an Illinois ABLE account for Joseph?

Mom:  Though we have a special needs trust (SNT) fund document for Joseph we never funded it.  It was much easier to fund the ABLE account and hopefully, be able to help Joseph when he is old enough to be either on his own or in a group home, or maybe just extra funding for him when I am no longer here.  It was nice to know that the funds wouldn’t be counted against him if he was ever to qualify for disability or other government programs.


accessABLE:  How did you hear about ABLE?

Mom: That is a very good question.  I think I received an email from the Illinois government about ABLE.  (AccessABLE: Know someone who should learn about ABLE? Share this link .)


accessABLE: Did you choose the investment options, the checking account option or both for Joseph?

Mom: I chose the investment options at this time, because currently my family is supporting Joseph. I was actually not aware of a checking account option.  We are using this as a means to build up funds for him, so he can use them later, either when he receives government assistance or when we are no longer able to support him.

accessABLE: How has your experience been with Illinois ABLE Customer Service and/or the ABLE website?

Mom: I have found everything about Illinois AbLE easy to use.  The only real questions I have had is about how the fund is either taxed or taxed exempt for both Joseph and the people funding the account for Joseph. (AccessABLE:  Thanks for the question, Mom! Earnings on and withdrawals from Illinois ABLE accounts are tax free as long as they are used for expenses related to living with a disability. Plus, Illinois taxpayers can deduct contributions to any Illinois ABLE account from their state income taxes.

accessABLE:  What kinds of expenses do you manage with your Illinois ABLE account?

Mom: We are currently not managing expenses with the ABLE Account.  We are using it to give Joseph a fund for his future without us or our ability to support him.

accessABLE: Do you have any special goals for your account for Joseph?  If so, what are they?

Mom: My goal is to build the Illinois ABLE account so that Joseph has the maximum amount possible in the account, so hopefully it will last him his lifetime.  I am not sure we will accomplish it, but we will try.

accessABLE: What advice would you give other people with disabilities and their families who are thinking about opening an Illinois ABLE account?

Mom: I would encourage everyone to open an ABLE account for the special needs person in their life.  I think it is a great vehicle for the person, so that they will have help to live a comfortable life when their current support person is no longer able to support them.

accessABLE:  Any other thoughts?

Mom: I really appreciate that the Illinois ABLE account is there for Joseph.


Thanks Mom!

For more information about Illinois ABLE, please click here.

Ready to open and Illinois ABLE account? Click here!

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