Programs to Achieve Self-Support (PASS) Accounts are an Underutilized Tool

Recently I attended a national NAELA seminar where I was re-introduced to the PASS account program.  What is a PASS account? This SSA program allows a disabled individual who wants to make a plan to have a new career or job to divert their own existing income and assets from any source to a designated account to pay the expenses of this plan.  The expenses can include college tuition, training, equipment, transportation and other items.  Once income and assets are diverted to this account, the disabled individual would achieve or maintain their eligibility for SSI, which is accompanied by Medicaid eligibility until such time as he or she can launch into a new profession. Special Needs Trusts and ABLE accounts are excellent tools to maintain quality of life for a disabled loved one who is on SSI or Medicaid.  However, non-assignable income of the beneficiary, like SSD or certain pension income, cannot be transferred into SNTs or ABLE accounts. The special…

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