Legislators Introduce Bill Allowing
  ABLE Accounts for Ohio Residents!

By Attorney Elena A. Lidrbauch


Ever since the Achieving a Better Life Experience (ABLE) Act was signed into federal law on December 19, 2014, individual states have been jumping to get on board with the ABLE Act.  39 states have either introduced or enacted a state version of the ABLE program.  We may now add to that list our own state of Ohio.  On Wednesday April 15, 2015, Ohio legislators introduced HB 155 and SB 147, the Disability Expense Savings Account bill, also known as the Ohio ABLE Act.


Why is there such an interest in ABLE accounts? 


One of the most overlooked but important reasons for young people to have a basic estate plan is if their main asset is their home. Particularly for young couples with young children at home, the house is generally the largest asset. Almost uniformly, that largest asset is encumbered by a mortgage. If something were to happen to you and your spouse and you didn't have a simple estate plan in place, the person in charge of your estate would likely be forced to sell the home to pay the debts of your estate. While this may not seem like a problem at first glance, if you don't have a last will and testament that specifically authorizes your executor to sell your real property to pay off your debts, your estate will likely have to...


Volume 5, Issue 1





Attorney David S. Banas is an Affiliate Member of the Special Needs Alliance. He also recently joined the ALS Association's Care Services Committee and the Cleveland Metropolitan Bar Association's Membership Committee.




Upcoming Events


Funding Alternatives for Children with Special Needs
Tuesday, May 5, 2015
6:30 - 8:30 p.m.
Grace Church, Middleburg Heights

Attorney Franklin J. Hickman will speak and answer questions at this session sponsored by Milestones Autism Resources.   Click here for details.

Disability Benefits - Making Sense of it All
Tuesday, May 19, 2015
6:30 p.m. - 8:30 p.m.
Summit Academy Secondary, Akron 

Attorney David S. Banas will speak about government programs, funding sources, and the ABLE Act at this session sponsored by ASPIES Greater Akron.  Click here for details.

Jewish Federation of Cleveland's 43rd Annual Charitable Tax Seminar
Tuesday, June 2, 2015
7:30 a.m. - 1:30 p.m.

Attorney Janet L. Lowder will co-present "The Medicare and Social Security Puzzle - Critical 'Must-Haves' for Clients" at this event for attorneys, accountants, trust officers, financial and insurance professionals.   Click here for more information, including registration.



Turning Your Obstacles into Opportunities