DRESHER, Pa., June 8, 2017 /PRNewswire/ -- Ascensus, a service and technology provider that helps more than 7 million Americans save for the future, is pleased to announce that it has launched Ugift® for ABLE savings accounts. Ugift® is a free, easy-to-use service that enables account owners to receive gift contributions via a simple and secure web experience. Originally created to help families saving for college, Ugift® has surpassed $400 million in gift contributions to 529 college savings plans since its inception in 2007.
ABLE savings accounts allow people with a disability or blindness to save for the future without jeopardizing their federal disability benefits. Ascensus administers ABLE programs across 11 states, providing account administration, investment management, and marketing services. By launching Ugift® for ABLE accounts, the firm aims to help account owners continue to grow their savings with gift contributions.
Family and friends can visit UgiftABLE.com at their convenience, enter the unique gifting code for the ABLE account, and complete their contribution in just a few minutes. Contributions can be made electronically from the gift givers' bank account or by check at any time.
"The ABLE program allows people living with disabilities and blindness to save for the specialized care and resources they need," states Jeff Howkins, president of Ascensus' college savings division. "Through Ugift®, friends and family members can easily join these savings efforts to help account owners meet their goals."
For more information on the Ugift® program for ABLE savings accounts, visit UgiftABLE.com.
Before investing in any ABLE program, you should consider whether your home state offers an ABLE program that provides its taxpayers with favorable state tax or other benefits that are only available through the home state's ABLE program. You also should consult your financial, tax, or other advisor to learn more about how state-based benefits (or any limitations) would apply to your specific circumstances. You also may wish to contact directly your home state's ABLE program, or any other ABLE program, to learn more about those plans' features, benefits, and limitations. Keep in mind that state-based benefits should be one of many appropriately weighted factors to be considered when making an investment decision.
Investment objectives, risks, charges, expenses, and other important information are included in an ABLE program's offering statement; read and consider it carefully before investing.
Investment returns are not guaranteed, and you could lose money by investing in an ABLE program. Account owners assume all investment risks as well as responsibility for any federal and state tax consequences.
An account in an ABLE plan is controlled by the account owner. Your gift contribution may have gift tax consequences or other tax implications. Please consult your tax advisor.
ACRS and its affiliates do not provide tax advice. Please note that (i) any discussion of U.S. tax matters contained in this communication cannot be used by you for the purpose of avoiding tax penalties; (ii) this communication was written to support the promotion or marketing of the matters addressed herein; and (iii) you should seek advice based on your particular circumstances from an independent tax advisor.
Ugift is a registered service mark of Ascensus Broker Dealer Services, Inc.
* Not FDIC Insured (except for ABLE plans that offer an FDIC-insured portfolio) * No Bank, State, or Federal Guarantee * May Lose Value *
Ascensus helps more than 7 million Americans save for the future—retirement, college, and healthcare—through service and technology solutions. With more than 35 years of experience, the firm offers tailored solutions that meet the needs of banks, credit unions, states, governments, financial professionals, employers, and individuals. Ascensus supports over 50,000 retirement plans, more than 4 million 529 college savings accounts, and a growing number of ABLE savings accounts. It also administers more than 1.5 million IRAs and health savings accounts. For more information about Ascensus, visit www.ascensus.com.
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