FAQs
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- About ABLE
- Account Management
- Additional Tax Benefits and Penalties
- ALR
- Banking and Investments
- Contributions and Withdrawals
- Eligibility
- Getting Started with ABLE
- Gifting
- Prepaid Card
- Recurring Contributions
- Rollover
- Successors and Estates
- Tax Credit
- What are the fees associated with an account?
- The ABLE for ALL Savings Plan aims to keep investment fees relatively low and waive any additional recurring fees when you manage your account online—the easiest and simplest way to manage your account. There is a low annual fee of $35 to keep everything running smoothly. There is also an annual... Read more
- Who owns the ABLE for ALL account?
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The money in an ABLE for ALL account always belongs to the beneficiary, regardless of who opened the account. ABLE accounts can be opened and managed by an Authorized Legal Representative (ALR), such as a parent or guardian, however, the money still belongs to the beneficiary.
- How is an ABLE account different from a Special Needs Trust or a Pooled Trust?
- ABLE accounts, Special Needs Trusts (SNTs), and Pooled Trusts are all financial tools that can help people with disabilities to save money. The best option depends on your situation and goals. An ABLE account won’t replace a Special Needs Trust or a Pooled Trust. Read on for an outline of some key... Read more
- What is the ABLE Act?
- Millions of people with disabilities rely on public benefits and federal programs such as Supplemental Security Income (SSI), Social Security Disability Insurance (SSDI), and Medicaid for their basic needs, but this assistance can be limiting. Those receiving much needed benefits, like SSI, are... Read more
- Is there a mobile app for ABLE for All?
- If you already have an ABLE for ALL account, you can download the Vestwell app for iOS or Android and take your account with you on the go. You can make contributions, withdraw funds, share gifting pages, and more. Download the app today, log in using your ABLE for ALL username and password, and... Read more
- Do my ABLE savings affect eligibility for federal financial aid?
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No. Money saved in an ABLE account does not count as an asset on your Free Application for Federal Student Aid (FAFSA). Plus, saving in an ABLE account may be an effective strategy to help you pay for future education expenses.
- Could saving for retirement impact my benefits?
- The short answer is, yes. Workers may choose to invest in both an ABLE savings account and a separate retirement savings account; however, retirement accounts were not designed with the same protections in mind as ABLE accounts. The money saved in an ABLE account does not count against asset limits... Read more
- Are investments in my ABLE for ALL account guaranteed not to lose money or are they insured?
- No. As with any investment, there is some risk involved. While ABLE for ALL Savings Plan accounts provide investment options to match a variety of risk tolerances, there is no guarantee that your portfolio will generate earnings. Before opening an account, you should carefully read and understand... Read more
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