Asking Eric: Financial planning tools for parents of disabled children

Jan 03, 2025

Dear Eric: This is regarding “Concerned for the Future”), the mother concerned for the financial well-being of her mentally and physically disabled son after her death. There are now federal accounts available, similar to 529 plans, for such individuals. An ABLE plan (Achieving Better Life Experience) allows mom or anyone to donate a maximum of up to $18,000/year to this plan.