ABLE Account Overview
What is an ABLE Account?
An ABLE (Achieving a Better Life Experience) account is a tax-advantaged savings account
designed to help individuals with disabilities save money without losing eligibility for
certain government benefits such as SSI and Medicaid.
Key Benefits
• Tax-deferred growth and tax-free withdrawals for qualified expenses
• Does not impact Medicaid eligibility
• Up to $100,000 excluded from SSI limits
• Flexible use for housing, healthcare, education, and daily expenses
Eligibility
• Disability began before age 46
• Receiving SSI/SSDI or physician-certified disability
• Texas residency required for Texas ABLE
Contribution Limits
• Annual: ~$17,000–$18,000
• Lifetime: ~$500,000 (Texas plan)
How to Open an Account
Visit: https://www.texasable.org
1. Create an account
2. Enter beneficiary information
3. Link bank account
4. Begin contributions
Important Considerations
• Must be used for qualified disability expenses
• Non-qualified withdrawals may incur tax and penalties
• Medicaid payback rules may apply
Sources and References:
Where to go to learn more https://www.texasable.org
Disclosures
This summary is being provided as a service to you by Patron Partners. In preparing this report, Patron Partners has relied upon information provided
by the account custodian. You should be receiving statements at least quarterly from your custodian. If you are not receiving these statements, or you
need another copy, please call us and we will provide one to you. We encourage you to compare the information on the reports prepared by us
against the information in the statement(s) provided directly from your account custodian and to alert us of any discrepancies. Please remember to
contact Patron Partners if there are any changes in your personal/financial situation or investment objectives for the purpose of
reviewing/evaluating/revising our previous recommendations and/or services. Please also advise us if you would like to impose, add, or to modify any
reasonable restrictions to our investment advisor services. A copy of our current written disclosures statement discussing our advisory service and
fees continues to remain available for your review upon request.
Patron Partners, LLC, ("Patron") is a registered investment adviser with the United States Securities and Exchange Commission. Paton does not make
any representations or warranties as to the accuracy, timeliness, suitability, completeness, or relevance of any information prepared by Patron or any
unaffiliated third party. Patron is neither an attorney nor accountant, and no portion of the presented content should be interpreted as legal,
accounting, or tax advice. All such information is provided solely for convenience purposes only, and all users thereof should be guided accordingly.