Parents of a child with a disability are thinking ahead.
Alysia Townsend, parent of IL ABLE Account Owner Etienne contributes to IL ABLE Account to save for her son’s adult life. “I didn’t need to immediately focus on spending ABLE money around certain needs,” said Townsend in a recent interview with Chalkbeat, a nonprofit news organization covering stories about education. “I already had those needs met. As he gets older he needs more things and different things.”
Parents of children with disabilities need and want to start saving and planning for their child’s future, just as they save and plan for their children without disabilities. An IL ABLE Account can help do that. Assets saved in an IL ABLE account can help parents save and invest for their child’s disability-related current and future expenses – like education, housing, and assistive technology. And up to 100,000 saved in the IL ABLE Account will be disregarded by SSA when determining a child’s eligibility for federal benefits.
Saving early can be pivotal to a child with a disability’s future. An IL ABLE Account is an important tool in the special needs financial planning toolbox.
Learn more about IL ABLE at illinoisable.com and read the Plan Disclosure Booklet.