IL ABLE: What Attorneys, Financial Advisors & CPAs Need to Know
Stephanie Kanter is the Director of the IL ABLE savings and investment program for people with disabilities at the Office of the Illinois State Treasurer. As an advocate and member of Chicago’s disability community, Stephanie’s background in nonprofit program administration and management is rooted in advancing the empowerment and equity of people with disabilities. Stephanie served on the City of Chicago Commission on Human Relations Board of Commissioners.
Starting on January 1, 2026, the eligibility criteria to own an ABLE account expands to include individuals whose disability onset before age 46.
A tax-advantaged IL ABLE Account can be an excellent tool for eligible people with disabilities to save and invest money for short and long-term expenses. Earnings and withdrawals are ABLE Accounts are tax-free when used for a wide range of qualified disability expenses that help to improve the health, independence and/or quality of life of the Account Owner.
This presentation will cover Account eligibility, and key benefits and features of IL ABLE Accounts including how:
- IL ABLE Accounts can help eligible individuals save while maintaining federal benefits eligibility.
- Working Account Owners may be able to contribute more to their Account.
- IL ABLE Accounts can complement other financial vehicles such as retirement accounts and special needs trusts.
