To Your Better Future

The Achieving a Better Life Experience (ABLE) Act, signed into law in 2014, created a powerful savings tool for individuals with disabilities. ABLE accounts allow people with disabilities to save money without losing access to essential government benefits like SSI and Medicaid. Whether for daily expenses or future needs, these accounts can play a crucial role in achieving financial independence. In this blog I’ll explain what ABLE accounts are, how they work, and why they matter. What is an ABLE Account and Why do You need it? An ABLE account is a tax-advantaged savings account designed specifically for individuals with disabilities and their families. Many individuals with disabilities rely on public benefits such as SSI (Social Security Income) and Medicaid to meet their basic needs. These programs, however, impose strict asset limits—typically no more than $2,000 in savings—which forces individuals to stay impoverished to retain their benefits. An ABLE allows you to save and in...

Have you ever wondered what would happen to your assets, loved ones, or financial future if something unexpected occurred? Whether you’re preparing for retirement, leaving a legacy for your family, or simply ensuring peace of mind, understanding the difference between estate planning and financial planning is crucial. These two strategies are often confused, but they each play a distinct role in shaping your financial future.   Estate Planning vs. Financial Planning: A Breakdown Estate planning is the process of determining how your assets will be managed and distributed both in the event of incapacity and after you're gone. Each person's goals shape the type of estate plan they need. For some, estate planning may be as simple as a will to ensure assets are passed to loved ones, while others may require a revocable living trust-centered plan to avoid probate and save on taxes, or even more complex strategies like dynasty trusts to provide for future generations. Estate pl...

Relocating to a new state is exciting—new surroundings, new opportunities—but amidst the hustle and bustle, have you considered how the move might affect your estate planning documents? Technically, your will, trust, and power of attorney are still valid. The U.S. Constitution requires states to honor legal documents from other states. But here’s the catch: while they should be accepted, the practical reality isn’t always so straightforward. Estate planning isn’t just about having the right documents; it’s about ensuring they work when you need them most. And that’s where moving to a new state can complicate things. Different states have different rules, and sometimes institutions can be picky about the forms they accept. So, while your documents might not need a complete overhaul, getting them reviewed by a local estate planning attorney is a smart move. Is My Will Still Valid? What About My Revocable Trust? Your will is still valid, but state laws vary, and some provisions might not ...