Navigating Tax Challenges of ABLE Accounts and Special Needs Trusts: Guidance for Elder Law Attorneys
A live 90-minute CLE video webinar with interactive Q&A
This CLE course will offer estate planning, special needs planning, and elder law attorneys guidance on navigating the intricacies of ABLE accounts and special needs trusts under current tax law, including the IRS final regulations for ABLE accounts. The panelist will review the impact of current tax law on the taxation of these critical planning tools, techniques for avoiding pitfalls in utilizing these planning tools, and their interplay with other planning strategies.
Outline
- Overview of ABLE accounts
- Criteria for enrollment and contributions
- Benefits
- Limitations
- Impact of IRS final regulations
- Interplay with special needs trusts
- Self-settled
- Third party
- Benefits
- Limitations
Benefits
The panelist will review these and other noteworthy issues:
- How are contributions to ABLE accounts and special needs trusts treated under the final IRS regulations?
- What advantages are there for beneficiaries wanting to contribute income/earnings to special needs trusts and ABLE accounts?
- What steps can families of aging and disabled clients take to ensure that the maximum benefit is derived from these planning tools?
Faculty
Jennifer Marie (Jenny) McInerney
Attorney
McInerney Law Firm
Ms. McInerney's primary practice areas include Wills and Trusts, Special Needs Planning, Estate... | Read More
Ms. McInerney's primary practice areas include Wills and Trusts, Special Needs Planning, Estate Administration, Trust Administration, Business Succession Planning/Formation, Guardianships (and alternatives), and Conservatorships. She is a graduate and member of Leadership Birmingham (2022) and Leadership Shelby County (20212). Ms. McInerney is a proud graduate of Partners in Policymaking Alabama “PIPA” (2021). She is also a member of the Birmingham Bar, Solo/Small Firm Section of the Alabama State Bar, and the Probate Section of the Birmingham Bar.
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