Gift to ABLE Accounts
Updated: Dec 17, 2018
ABLEnow accounts are savings accounts for individuals with disabilities. The accounts can be used to pay for qualified expenses, without being taxed on the earnings or losing eligibility for benefit programs.
Anyone can contribute to an ABLEnow account. The new ABLEnow Contribution Center allows family and friends to easily make online gift contributions. In this way, you can provide financial assistance to your loved one without endangering the person’s eligibility for certain disability benefits. The Contribution Center allows you to make contributions online or by mail. To make an online contribution, you will need the account owner’s last name and account number. The Contribution Center is free to use. Contributions are limited to $2,500 per day through the ABLEnow Online Contribution Center. Annual contributions are limited to $15,000.
Before ABLEnow, monetary gifts to an individual with disabilities could jeopardize their assistance benefits. Now, with the ABLEnow Contribution Center, it is easy for those with disabilities to accept monetary gifts and assistance. Family and friends can mark special milestones and holidays by making contributions directly to their loved one’s ABLEnow account.
Gift contributions can also be made directly to an ABLEnow account by mail. The ABLEnow website has printable, themed gift certificates available online for your contribution. You can make contributions by visiting ABLEnow “Give a Gift.”