The Ultimate Guide to ABLE Accounts and Special Needs Trusts: Eligibility and Requirements, Application, Funding, and Tax Planning

Jennifer McInerney | McInerney Law Firm

Jenny grew up in Shelby County, Alabama. She graduated from the University of Alabama at Birmingham, with honors in 2001 (B.A., magna cum laude) and 2003 (M.A., summa cum laude), Indiana University School of Law in 2008 (J.D., cum laude), and Washington University in St. Louis in 2022 (LL.M. in Taxation, summa cum laude). She is licensed to practice law in Alabama and Mississippi. She is a registered Mediator in the state of Alabama.

Jenny’s practice is devoted to helping families plan. Jenny helps her clients develop a thoughtful estate plan to protect their loved ones in the event of death or disability. She uses her knowledge and experience to help families avoid problems and disputes during life transitions.

Jenny advises her clients on Wills, Trusts, Special Needs Planning, Medicaid planning, Elder law, Supported Decision Making Agreements, Guardianships/Conservatorships (and alternatives), Prenuptial and Postnuptial Agreements, Durable Powers of Attorney, Advanced Health Care Directives, Estate Administration, Trust Administration, Estate and Trust Litigation, and minor children Name Changes.

Jenny has a passion for special needs planning – which is estate planning for the benefit of someone who is disabled or who may be/or will be receiving needs-based government assistance. Special needs plannin can greatly enhance such an individual’s life. It is also necessary to be even more deliberate and thoughtful in a special needs plan, as we are providing for someone who will likely never be able to care for themselves. Jenny is the mother to two children with special needs, which provides her with a unique perspective in advising her clients – she understands the reality of being a parent to an adult with special needs and to a young child with special needs.

Jenny’s practice is devoted to helping small businesses. Many of the families Jenny serve own and operate small businesses here in our community. Jenny regularly handles business entity formation, general business and corporate law matters, and litigation. She also has extensive experience in non-profit formation, compliance, and management.

She is an active member of the community. She is the current President of the Board of Directors of the Greater Alabama 310 Board, Inc, the Co-President of the Board of Directors of Special Siblings, a member of the Board of Directors of Down Syndrome Alabama, a member of the Board of Directors of The Arc of Shelby County, a member of the Board of Directors of Shelby Humane Society, and a member of the Board of Directors of 25:35. Jenny is the den leader for Troop 320 – Tigers.

Jenny is a graduate of Leadership Birmingham (2023), Leadership Shelby County (2011), Partners in Policymaking of Alabama (2021), and the Birmingham Bar Association’s Future Leaders Forum (2011). Jenny is the author of the blog for Alabama’s ABLE program. Jenny has three children, three rescue dogs and is married to Kerry.

Michael Ringel | Strategies for Wealth

Michael Ringel is a seasoned financial professional who has dedicated over two decades to empowering individuals and families, especially those caring for loved ones with disabilities, with thoughtful, values-driven financial strategies. As a Chartered Special Needs Consultant (ChSNC), Michael is deeply committed to helping families of individuals with special needs plan for the future with clarity, confidence, and compassion.

Michael’s journey into financial education began with a strong academic foundation and a personal passion for teaching, inspired by his father, a college professor. Rather than take a traditional classroom route, Michael chose to teach where it matters most, at the kitchen table, helping families understand how to protect and grow their financial futures. Since 2004, he has worked closely with parents of children with disabilities, guiding them through complex topics like special needs trusts, ABLE accounts, and long-term financial security.

With professional designations including CPA, RICP, CDFA, and CExP, and an MBA from NYU’s Stern School of Business, Michael brings academic rigor and practical experience to his client relationships. His client-first philosophy focuses on uncovering each family’s personal and financial values before offering tailored strategies, especially for those planning for the long-term care and independence of a child with disabilities.

Michael is a frequent speaker on special needs financial planning, presenting annually at the New Jersey Autism Conference, the New Jersey State Society of CPAs, and through national webinars hosted by organizations such as the Autism Society, GiGi’s Playhouse, and The ARC of New Jersey. He is also a sought-after guest on podcasts covering financial literacy and special needs advocacy.

Peter J. Wall | True Link Financial Advisors, LLC

Peter J Wall is the Director of Fiduciary Services for True Link Financial Advisors, LLC. Prior to joining True Link, Mr. Wall developed and helped lead a dedicated Disability and Elder Law division of an $80 billion nationally chartered trust bank. With over 20 years of trust administration and planning experience, Peter focuses his efforts on the Elder Law Arena and is known for his Special Needs Trust administration and planning capabilities throughout the country. A Bachelor of Arts with Honors graduate of the University of Northern Colorado, Mr. Wall is the past president for the Centennial Estate Planning Council and Board of Directors of Colorado Access Gallery and currently serves on the Board of Directors for Easter seals and the Board of Trustees for the next50 Foundation. He is a frequent presenter on the topics of Special Needs Trusts, estate planning, taxation, and trust administration and is a presenter and faculty member at conferences all over the country. Mr. Wall is also a published author, most notably in the Elder Law in Colorado Red Book, Fourth Edition; the National Academy of Elder Law Attorneys Journal; and Wealth Counsel Quarterly. Peter is a nationally recognized touring saxophonist and lives in Denver, CO with his two children.

Session I – Financial Planning Tools for Disability Benefits: ABLE Accounts & SNTs from an Attorney’s Perspective | 12:00pm – 1:00pm

• ABLE accounts vs. SNTs
• Government benefits and planning
• Reporting requirements
  • Medicaid
  • Social Security Administration (SSA)

Break | 1:00pm – 1:10pm

Session II – Ethical Considerations in Planning for Individuals with Disabilities | 1:10pm – 2:10pm

• ABA Model Rule 1.14 – Client with diminished capacity
• ABA Model Rule 1.7 – Conflict of interest: Current clients
• ABA Model Rule 1.6 – Confidentiality of information

Break | 2:10pm – 2:20pm

Session III – ABLE Accounts: Practical Applications and Use Cases | 2:20pm – 3:20pm

• A review of how to open and fund an ABLE account, including public benefits impact, spending restrictions, tax impacts, and funding mechanisms
• A review of current data in re: ABLE account usage, funding amounts, and balances nationwide
• A synopsis of Qualified Disability Expenses (QDEs) and their effect on supplemental security income’s in-kind support and maintenance requirements
• A synopsis of how to best use an ABLE account in conjunction with a Special Needs Trust (SNT)
• A review of additional savings programs for people with disabilities afforded by the ABLE Act

Break | 3:20pm – 3:30pm

Session IV – Financial Strategies for Families with Special Needs: A CPA’s Perspective | 3:30pm – 4:30pm

• Why a special needs trust is a “must have” and how to fund it effectively
• How to save money for your retirement and fund your special needs plan
• Discover what an ABLE account is and why you may want to open one