FAQs
Answers at your fingertips
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- Benefits
- Contributions
- Eligibility
- General
- Gifting
- How it Works
- Linking Bank Accounts
- Opening an Account
- Prepaid Card
- Qualified Expenses
- Successors and Estates
- Tax Benefits
- Who owns the account?
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The account is owned by the beneficiary, regardless of whether they opened the account or it’s managed by an Authorized Legal Representative. The funds in the account belong to the beneficiary.
- Can there be more than one Authorized Legal Representative?
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There can only be one Authorized Legal Representative per account, but you can change an ALR by filling out a Change of Authorized Legal Representative Form.
- Can I still work and have an account?
- Yes, the ABLE to Work Act allows beneficiaries who are employed to contribute an amount equal to their current year’s gross income (up to a maximum of $14,580 in 2024) each year to their ABLE accounts in addition to the annual standard contribution limit of $18,000. Here are some rules and... Read more
- How do I know if I’m an Authorized Legal Representative?
- An Authorized Legal Representative is someone who is legally authorized under state and federal law to make decisions for the beneficiary. You’re an Authorized Legal Representative if you are selected by the eligible beneficiary with legal capacity, you have Power of Attorney, are a conservator or... Read more
- Who can open an ABLE 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 anyone... Read more
- Can I roll over a 529 College Savings Plan into my Washington State ABLE account?
- Yes, you can roll over money from a 529 College Savings account into a Washington ABLE account without incurring federal taxes or the federal tax penalty. The rollover must be either to the same beneficiary’s ABLE account or to the ABLE account of a family member of the beneficiary. If the... Read more
- What is ABLE to Work?
- The ABLE to Work Act allows beneficiaries who are employed to contribute an amount equal to their current year’s gross income (up to a maximum of $14,580 in 2024) each year to their ABLE accounts in addition to the annual standard contribution limit of $18,000. You can make an ABLE to Work... Read more
- Are there any limits to how much I can contribute?
- Annual Standard Contribution Limit There’s a $18,000 yearly limit for standard contributions, which includes any gift contributions made to your account. There is a $10 contribution minimum. ABLE to Work Contribution Limit The ABLE to Work Act allows beneficiaries who are employed to contribute an... Read more
- Can money in an ABLE account be recovered in a bankruptcy?
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No. Your Washington State ABLE account is excluded from a debtor’s bankruptcy estate.
- How do I make a gift contribution online?
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To contribute online, first make sure the recipient has set up their gifting page. Then, use their gifting page link to fill out the form fields as directed like your name, address, the amount you want to contribute, the payment method you would like to use, and the occasion for your generosity.