January 25th, 2015

Latest Articles

Alert: Congress Passes New Law to Help Disabled Youth

Alert: Congress Passes New Law to Help Disabled Youth Congress passed, and on December 19, 2014, President Obama signed the Achieving a Better Life Experience Act into law (ABLE Act). This is an incredible step forward for folks who become disabled before age 26. This new law will be an important part of the estate planning for any family with a qualified disabled individual. What is an ABLE account? The ABLE account amends the IRS Code to exempt from taxation a qualified ABLE account set up by a state to pay “qualified disability expenses” for a qualified disabled person. The term “qualified disability expenses” incl...

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Indiana Special Income Level Increases

IMPORTANT NOTICE Indiana Special Income Level Increases January 1, 2015 Indiana now has an income cap for Hoosiers needing Medicaid assistance in nursing homes and for waiver services. A person’s income in excess of the special income level must be deposited into a qualified income trust each month. The special income level was $2,163 in 2014. This increases to $2,199 on January 1, 2015. Recipients with a qualified income trust (Miller Trust) will need to put their income in excess of $2,199 into a qualified income trust each month starting January 1, 2015.                                                              ...

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