Terms Used In Indiana Code > Title 12 > Article 11 > Chapter 14 - Achieving a Better Life Experience (ABLE) Program

• ABLE account: refers to an achieving a better life experience (ABLE) account established by an eligible individual that:

  Indiana Code 12-11-14-1

• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
• authority: refers to the achieving a better life experience (ABLE) authority created by section 9 of this chapter. See Indiana Code 12-11-14-2
• Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. ^{Source: OCC}
• Bequest: Property gifted by will.
• board: refers to the ABLE board of the authority established by section 10 of this chapter. See Indiana Code 12-11-14-3
• Contract: A legal written agreement that becomes binding when signed.
• contracting state: means a state that has entered into a contract with Indiana to:

  Indiana Code 12-11-14-4

• designated beneficiary: means the eligible individual who has established an ABLE account and is the owner of the account. See Indiana Code 12-11-14-5
• Devise: To gift property by will.
• Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
• eligible individual: means an individual who during a taxable year:

  Indiana Code 12-11-14-6

• Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. ^{Source: U.S. Courts}
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• Ex officio: Literally, by virtue of one's office.
• Garnishment: Generally, garnishment is a court proceeding in which a creditor asks a court to order a third party who owes money to the debtor or otherwise holds assets belonging to the debtor to turn over to the creditor any of the debtor
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• Judgment: means all final orders, decrees, and determinations in an action and all orders upon which executions may issue. See Indiana Code 1-1-4-5
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Oversight: Committee review of the activities of a Federal agency or program.
• Property: includes personal and real property. See Indiana Code 1-1-4-5
• qualified ABLE program: refers to the achieving a better life experience (ABLE) program established under this chapter under which a person may make contributions for a taxable year for the benefit of an eligible individual to an ABLE account to meet the qualified disability expenses of the designated beneficiary in compliance with Section 529A of the Internal Revenue Code. See Indiana Code 12-11-14-7
• qualified disability expense: means any expenses related to the eligible individual's blindness or disability that are incurred for the benefit of an eligible individual who is the designated beneficiary, including the following expenses:

  Indiana Code 12-11-14-8

• Quorum: The number of legislators that must be present to do business.
• real property: include lands, tenements, and hereditaments. See Indiana Code 1-1-4-5
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• Statute: A law passed by a legislature.
• Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5