New Jersey Estate Planning Attorney Christine Matus Releases Insightful Article on ABLE Accounts 12-12-2024 09:54 PM CET | Politics, Law & Society Press release from: ABNewswire New Jersey estate planning attorney Christine Matus ( https://matuslaw.com/what-are-able-accounts-in-new-jersey/ ) of The Matus Law Group sheds light on the value of ABLE accounts, a crucial financial tool designed to empower individuals with disabilities and their families. Christine Matus emphasizes the pivotal role these accounts play in safeguarding eligibility for essential government benefits while promoting financial independence. ABLE accounts, established under the Stephen Beck, Jr. Achieving a Better Life Experience (ABLE) Act of 2014, have transformed financial planning for special needs individuals. Christine Matus explains that these accounts allow individuals diagnosed with disabilities before age 26 to save money for various expenses without jeopardizing benefits such as SSI or Medicaid. "These accounts are a lifeline for families," the New Jersey estate planning attorney notes. "They allow for essential financial stability while maintaining access to critical government programs." For those handling the complex matter of special needs planning, engaging a New Jersey estate planning attorney can be invaluable. Christine Matus highlights that funds deposited in ABLE accounts are not considered when determining eligibility for public assistance. This means families can maintain their loved ones' health and independence without sacrificing vital support systems. ABLE accounts provide a unique advantage: the income earned within these accounts is tax-deferred, offering a financial incentive for long-term savings. "This feature can significantly alleviate the financial strain on families while supporting the quality of life for individuals with special needs," adds Matus. Opening an ABLE account in New Jersey is straightforward but requires careful adherence to eligibility criteria. The individual must have been diagnosed with a disability before their 26th birthday and meet specific functional or government disability standards. "For families unsure of how to proceed, consulting with an estate planning attorney can clarify the requirements and streamline the process," says Matus. Christine Matus outlines the steps for setting up an ABLE account. Eligible individuals, or their authorized representatives, need to complete an enrollment form, which can be submitted online or via mail. Additional documentation, such as a doctor's diagnosis or Social Security verification, may be required to confirm eligibility. An initial contribution of at least $25 is necessary to open the account. Expenses covered by ABLE accounts must align with the definition of qualified disability expenses as outlined by the Social Security Administration. These include housing, health care, education, transportation, and personal support services. "Families should be mindful of the rules," warns Matus, "since non-qualified expenses can result in tax penalties and impact eligibility for benefits." While the benefits of ABLE accounts are substantial, there are limitations. Contributions are capped annually, and the total account value can affect benefits if it exceeds certain thresholds. Additionally, upon the account holder's death, remaining funds may be used to reimburse the state for Medicaid payments unless transferred to another family member with a disability. Christine Matus underscores the importance of working with a knowledgeable estate planning attorney to manage these nuances. "ABLE accounts are a powerful tool, but understanding their intricate aspects is essential for maximizing their benefits," Matus advises. ABLE accounts represent a significant step forward for families striving to balance financial security with the ongoing needs of individuals with disabilities. At The Matus Law Group, Christine Matus continues to provide guidance to families seeking to utilize ABLE accounts as part of their broader estate planning efforts. Families considering opening an ABLE account should consult with an experienced attorney to help ensure they meet eligibility requirements and make informed decisions. Christine Matus and The Matus Law Group can offer comprehensive support to families handling this process. About The Matus Law Group: The Matus Law Group is a dedicated law firm based in New Jersey, well-versed in estate planning and legal solutions tailored to the needs of individuals and families. Led by Christine Matus, the firm is committed to empowering clients with knowledge and tools to protect their financial futures, including those supporting loved ones with special needs. Embeds: Youtube Video: https://www.youtube.com/watch?v=j50bJGQgSGU GMB: https://www.google.com/maps?cid=6876392708092026946 Email and website Email: admin@matuslaw.com Website: https://matuslaw.com/ Media Contact Company Name: Matus Law Group Contact Person: Christine Matus Email:Send Email [ https://www.abnewswire.com/email_contact_us.php?pr=new-jersey-estate-planning-attorney-christine-matus-releases-insightful-article-on-able-accounts ] Phone: (732) 281-0060 Address:81 E Water St #2C City: Toms River State: New Jersey 08753 Country: United States Website: https://matuslaw.com/ This release was published on openPR.
MALIBU, Calif., Dec. 13, 2024 (SEND2PRESS NEWSWIRE) — As the Franklin Fire nears containment, having scorched over 4,000 acres and displaced thousands of residents, the Satellite Phone Store ( satellitephonestore.com ) is stepping up to provide critical communication solutions to assist recovery efforts and prepare communities for future emergencies. The Franklin Fire, which destroyed six homes and damaged others, left many areas without reliable communication infrastructure. Satellite communication devices such as sat phones & starlink terminals , which function independently of damaged cell networks, are proving essential for both emergency responders and returning residents. IN RESPONSE TO THE CRISIS, THE SATELLITE PHONE STORE IS OFFERING: “A WAKE-UP CALL FOR PREPAREDNESS” “Disasters like the Franklin Fire remind us how essential reliable communication is during and after an emergency,” said Tina Blanco, CEO of Satellite Phone Store. “We’re here to help Malibu recover, but we also want to encourage everyone to think ahead. It’s never too late to prepare for the unexpected, and having the right tools can make all the difference.” SATELLITE COMMUNICATION: A LIFELINE DURING AND AFTER A CRISIS As displaced residents begin returning home, satellite communication tools are helping: With the wildfire starting to be under control, attention now shifts to the importance of emergency preparedness. Wildfires, earthquakes, and other natural disasters can happen at any time, and satellite communication ensures connectivity when traditional networks fail. WHY PREPAREDNESS MATTERS The Satellite Phone Store emphasizes the importance of readiness for future emergencies: PREPARE TODAY FOR TOMORROW’S EMERGENCIES As Malibu rebuilds, the Satellite Phone Store urges individuals and communities to take action now to prepare for what’s next. Reliable communication tools aren’t just for disasters—they’re a safeguard for the unexpected challenges of the future. About Satellite Phone Store: The Satellite Phone Store, a division of Connecta Satellite Solutions LLC , is a global leader in satellite communication technology. Specializing in satellite phones, portable internet hotspots, GPS trackers, and emergency equipment, the company equips families, businesses, and governments with tools to stay connected in extreme conditions. For more information, visit https://SatellitePhoneStore.com/ or call 1-877-324-6913. MEDIA CONTACT: Lacey Moore Website: SatellitePhoneStore.com Email: Care@SatellitePhoneStore.com Phone: 1-877-324-6913 Locations: California, Florida, Alaska NEWS SOURCE: Satellite Phone Store Keywords: Telecom and VoIP, Emergency, Telecom, Technology, Internet, Natural Disasters, malibu wildfires, portable internet, satellite internet, sat phones, franklin fires, emergency response, california, MALIBU, Calif. This press release was issued on behalf of the news source (Satellite Phone Store) who is solely responsibile for its accuracy, by Send2Press® Newswire . Information is believed accurate but not guaranteed. Story ID: S2P122844 APDF15TBLLI To view the original version, visit: https://www.send2press.com/wire/satellite-phone-store-steps-in-to-support-malibu-wildfire-recovery-with-lifesaving-communication-tools/ © 2024 Send2Press® Newswire, a press release distribution service, Calif., USA. Disclaimer: This press release content was not created by nor issued by the Associated Press (AP). Content below is unrelated to this news story.Mayfield throws 5 TD passes and Bucs keep playoff, NFC South hopes alive with 48-14 rout of Panthers
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