Hosts Meghan (Smallwood) and Patrick (Cadigan) speak with Kelly Nelson about ABLE accounts, highlighting how they allow individuals with disabilities to save money without affecting SSI, Social Security, or Medicaid eligibility. The conversation covers key features such as tax advantages, online setup, gifting options, prepaid cards, and financial literacy tools, as well as the importance of opening an account early. They also discuss how ABLE funds can be used for health, independence, quality of life expenses, long-term savings, and managing back payments. Join the conversation!
Episode Keywords:
ABLE accounts, disability support, financial stability, personal choice, independence, asset protection, Social Security, SSI benefits, Medicaid, special needs trust, 529 rollover, quality of life, authorized legal representative, eligibility criteria, transition process, financial literacy, gifting page, prepaid card, Maryland ABLE, investment options, special needs, back payments, financial management, tax benefits, disability savings, financial independence
Links:
ABLE Today (site)
ABLE National Resource Center (site)
California ABLE (site)
Set up a Gifting page (link)
Authorized Legal Representative (ALR) (link)
Financial Literacy (article)
Bank of New York Mellon (site)
VestWell (site)
Vanguard (site)
Social Security (site)
SSI (site)
Medicaid (site)
ABLE Age Adjustment Act (page)
Guardianship (page)
Maryland (specific) Links/Supports:
Maryland ABLE.org (site)
To download a copy of a transcript for this episode or any of our previous conversations, click here.
Also visit our Podcast webpage to find links to all of our other discussions; go to www.p2transition.com.
Additional information about post-secondary transition can be found at our website.
The Post-Secondary Transition Podcast Facebook page.
Visit our YouTube Channel to find additional video resources.
Intro/Outro music by AudioCoffee from Pixabay.
Transition music by Joseph McDade from Transistor.
