How to Open an ABLE Account for a Special-Needs Child

If you live in a state that doesn't have one of these new tax-advantaged plans yet, you can open one in another state.

(Image credit: jarenwicklund)

I saw your article about the new ABLE accounts for children with special needs. I'm interested in opening an account for my son, but we don't have a plan available in our state yet. Can I open an account in another state? How do I pick the best one?

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Kimberly Lankford
Contributing Editor, Kiplinger's Personal Finance

As the "Ask Kim" columnist for Kiplinger's Personal Finance, Lankford receives hundreds of personal finance questions from readers every month. She is the author of Rescue Your Financial Life (McGraw-Hill, 2003), The Insurance Maze: How You Can Save Money on Insurance -- and Still Get the Coverage You Need (Kaplan, 2006), Kiplinger's Ask Kim for Money Smart Solutions (Kaplan, 2007) and The Kiplinger/BBB Personal Finance Guide for Military Families. She is frequently featured as a financial expert on television and radio, including NBC's Today Show, CNN, CNBC and National Public Radio.