ABLE Accounts in CT

ABLE accounts were authorized by federal law by adding §529A to the Internal Revenue Code in December of 2014.  They are actually allowed to be operative by 1-1-15. However, they are not yet in effect in CT (effective 10-1-15) and you can't set one up.  

Connecticut passed the legislation and it was signed into law (Public Act 15-80) on 6-19-15, however it is not effective until 10-1-15.  

So, if you live in CT, regardless of whether it is Wilton or Easton, until October, your only option is a special needs trust which is more complex and expensive.

Elder, Wills, Estates, Trusts, Special Needs Tax & Business Law; Attorney John Sweeney

Sweeney Legal, LLC, provides legal, practical, and business counsel to Seniors, families, and businesses in the Fairfield, Connecticut area, including the communities of Bridgeport, Bethel, Brookfield, Danbury, Darien, Easton, Fairfield, New Canaan, Newtown, Norwalk, Redding, Ridgefield, Stamford, Weston, Westport and Wilton. John is also licensed in New York serving Westchester County including the towns of Bedford, Lewisboro, Mount Kisco, North Salem, Pound Ridge, and Somers.

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