Question: Can Medicaid recover – or “claw back” – assets from an ABLE Account after an Account Owner passes away?
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Five Things to Know About IL ABLE Accounts after the Death of an Account Beneficiary
It’s one of the questions asked most frequently about IL ABLE Accounts: “What happens to the IL ABLE Account when an Account Owner passes away?” While it’s not something anyone likes to think about, it is important to know what happens to an IL ABLE Account when an Account Owner passes away and what steps to take. And we have some answers.
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Self-Advocates Speak for Themselves about IL ABLE
IL ABLE Account Owners Featured as Panelists at Arc of Illinois Annual Convention
IL ABLE Account Owners Tom and Nevit told their personal stories about the pride and independence they feel by being the owners of an IL ABLE Account during the Arc of Illinois Annual Convention on May 1 in Normal, IL. The pair presented the “Me and My IL ABLE Account: Self Advocates’ Perspectives” session. Tom and Nevit each shared their sense of pride and autonomy with the audience as they discussed how they “make it happen” through their IL ABLE Accounts.
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Disability Advocate Reveca Torres Creates Social Impact Through Art with an IL ABLE Account
Spotlight on Reveca Torres: Artist and Community Builder
IL ABLE Account Owner Reveca Torres wears many hats; she is a disability advocate, artist, filmmaker, and the founder and Executive Director of Backbones – a nonprofit dedicated to helping people with spinal cord injuries or disease connect with their communities.
In March, Reveca received an award for Outstanding Achievements in Arts and Humanities from Illinois State Treasurer Frerichs in honor of Women’s History Month. accessABLE News & Updates editors connected with Reveca recently to learn more about her work and how her IL ABLE Account helps to support her efforts.
Tax Time & IL ABLE Accounts
Important considerations when filing tax returns
Keep this important information in mind about IL ABLE Accounts when filing your 2023 tax return.
Five Great Reasons to Open an IL ABLE Account
Everyone has a reason to save money. IL ABLE tax-advantaged savings and investing Accounts can be a powerful financial tool to help Eligible Individuals with disabilities and their Authorized Individuals meet their short-, medium-, and long-term savings goals. Here are five of the most common reasons why eligible individuals and their Authorized Individuals open an IL ABLE Account.
Commit to Meeting Your Financial Goals
These IL ABLE Account features can help.
Are you establishing or recommitting to financial goals this year? No matter if your goals are long-term, short-term, or somewhere in between, these two IL ABLE Account features may help you meet your financial goals by making saving easier.
Meet Tom – IL ABLE Account Owner
Watch and hear how he “Makes It Happen with His IL ABLE Account.”
Meet Tom, an active IL ABLE Account Owner. He uses the funds in his Account to pay for things he needs to stay fit and healthy. Did you know that expenses for “health and wellness” are just a few of the types of “Qualified Disability Expenses” that funds in an IL ABLE Account can pay for?
Treasurer Frerichs Honors Illinois State Senator Scott Bennett
A Champion of the Achieving a Better Life Experience Program
Last December, the IL ABLE program lost a fierce advocate and dear friend of Treasurer Michael Frerichs. Illinois State Senator Scott Bennett was the original sponsor of the legislation that created the Achieving a Better Life Experience program here in Illinois. Today, the program is named the Senator Scott Bennett Illinois ABLE Program in honor of his legacy.
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Treasurer Frerichs Discusses IL ABLE Accounts
Listen to a recording of the special AARP Illinois Telephone Town Hall.
On December 6, AARP Illinois hosted Treasurer Michael Frerichs for a Telephone Town Hall about IL ABLE Accounts. The Treasurer discussed and answered listeners’ questions about IL ABLE Accounts and how grandparents, parents, siblings, and others can help loved ones with disabilities build a higher quality of life and protect their benefits with an IL ABLE tax-advantaged savings and investment account for people with disabilities.