Member Since: Mar 18th 2018
Mar 18th 2018
Self funded ABLE account question- I understand that a gift to an ABLE account beneficiary can be no more than $15,000 per year But if a disabled person has an account already, and meets the requirements (had eligible disability diagnosed at 26 yrs old or younger and qualified for SSDI or SSI at that time) how much can the disabled person put in if the ABLE account if the ABLE account is self funded? Example - Say the disabled person received a substantial legal settlement of S200,000, could that entire amount be deposited into his or her own ABLE account in that year? Is there a yearly limit to how much can be put in, or is it only limited by the total accumulated allowable amount of the ABLE account?