EPCRI: February Dinner Meeting
Nancy Fisher Chudacoff is “of counsel” at Cameron & Mittleman. Previously she was a partner at Hardy Tabor & Chudacoff. She now concentrates her practice on special-needs trusts.
Nancy received her undergraduate degree from Northwestern University and Master of Library Science and Master of History degrees from University of Rhode Island. She graduated, cum laude, from the Boston University School of Law.
Nancy is a charter member of the Academy of Special Needs Planners (ASNP) and has presented at several of the ASNP annual meetings. She is also a fellow of the American College of Trust and Estate Counsel and a long-time member of the Rhode Island Bar Association’s Probate and Trust Committee
Topic: A presentation on ABLE savings accounts for individuals with disabilities and on recent changes to rules regarding special-needs trusts.
The Achieving a Better Life Experience Act (ABLE), was passed by the U.S. Congress in 2014. It allows young people with disabilities and their families to save in a tax-advantaged account for eligible, disability-related expenses annually, without affecting their ability to benefit from supplemental security income (SSI), Medicaid, and other federal programs. Eligible expenses include: Education; health and wellness; housing; transportation; legal fees; financial management; employment training and support; and assistive technology. Rhode Island families can open an ABLE account with as little as $25.00. The total annual contributions, including those by friends and family, into an ABLE account is limited to $15,000 per tax year.
In April 2016, Governor Raimondo in signed a law which allows Rhode Island to join a multi-state consortium, ensuring that families in the Ocean State can access low-cost and high-quality investment options when investing ABLE funds.
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