As previously described in my blog post entitled Another
Tool in the Tool Box – The ABLE Act, an Overview,
Oklahoma has finally made operational our own ABLE program for Oklahoma
residents. Effective May 31, 2018, the
Oklahoma State Treasurer’s Office will launch our own state’s version of the
federal ABLE program. It will be called
the Oklahoma STABLE Program (STABLE = State Treasury ABLE Program). Additional information on Oklahoma’s STABLE
Program can be found here.
Effective May 31st, Oklahoma residents with a
disability diagnosed before age 26 will have the opportunity to establish an
ABLE Account to “store” excess funds in an account from which disbursements can
be made for “qualified disability expenses.”
Funds held in the STABLE account will not be deemed an “available
resource” for Medicaid and SSI programs.
Curtis J. Shacklett, Esq.
Barber & Bartz, P.C.
525 S. Main St., Ste. 800
Tulsa, OK 74103-4511
Telephone: (918) 599-7755
Facsimile: (918) 599-7756
Email: cshacklett@barberbartz.com
Website: www.barberbartz.com
