Any disability that qualifies for SSI or SSDI or blindness that developed before the age of 26 is eligible for an ABLE account. Some of the conditions recognized by the Social Security Administration that could qualify based on the level of severity include: blindness, Down Syndrome, hearing loss (deafness), epilepsy, autism, and more. Those who don’t receive social security benefits are still eligible if they can get a signed Diagnosis Form from a licensed physician.
Yes, you have to be a Washington State resident to have a Washington State ABLE Savings Plan account. If you don’t live in Washington State, you can open an ABLE for ALL Savings Plan account instead; it has similar benefits and is available to all eligible U.S. citizens.
Yes, you can use the ABLE to ABLE Rollover Form to get started. Keep in mind that you can only make one rollover every 12 months. An ABLE account can also be rolled over to an eligible member of the family if the rollover happens before the death of the original beneficiary who opened the account.
Yes, but you can only make one rollover every 12 months. Use the other ABLE plan’s rollover forms to start the process. If you’re looking for a national plan available to all U.S. citizens, check out the ABLE for ALL Savings Plan.
Yes, and with ABLE to Work you can contribute an amount equal to your current year gross income — up to $12,060 (as of 2018) each year — to your ABLE account, in addition to the yearly contribution limit of $15,000. Here are some rules and guidelines you should know about.
An Authorized Legal Representative is someone who is legally authorized under state and federal law to make decisions for the beneficiary. You’re an ALR if you can provide documentation of Power of Attorney or Legal Guardianship of the beneficiary, or are a parent of a beneficiary under the age of 18. Get help with a Power of Attorney of a beneficiary or learn about the guardianship process and get the form to get started here. If you need help, you can find general legal information about guardianship in Washington State or answers to specific questions.
If you’re an eligible beneficiary with a Representative Payee, you can open an account for yourself. To have a Representative Payee open an account for you, they must meet the requirements of an Authorized Legal Representative (as a Power of Attorney, parent, or legal guardian). Because the role of Representative Payee is specific and unique to Social Security benefits, it doesn't apply to ABLE plans without Power of Attorney. Find out more about who can open an account.
An adult beneficiary with a qualifying disability can open and manage an ABLE account or have an Authorized Legal Representative do it for them. If a beneficiary is under the age of 18, they must have an Authorized Legal Representative (also known as an ALR) do it for them. An ALR must be able to show Power of Attorney, Legal Guardianship documentation, or be a parent of a beneficiary under the age of 18. (Learn more about the ALR role). Alternatively, a Social Security Representative Payee who has Power of Attorney can qualify as an ALR and can open an account for an eligible beneficiary. Either way, a beneficiary can only have one ABLE account at a time.