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Now, families who previously established 529 college savings accounts, which can also grow tax-free, are wondering if they should transfer that money to one of the ABLE programs offered by a growing list of state governments. While recently passed tax legislation makes it possible to directly roll over funds from a 529 into ABLE, the answer is probably “no,” unless there’s a compelling need to make those college savings directly accessible by the beneficiary.
The new law, part… read more