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
- How do I change my address?
- You can update the address of either a beneficiary or an Authorized Legal Representative through your online dashboard under the Settings menu. Generally, an address change to an ABLE for ALL account will not affect the operation of your account. However, all check withdrawals requested with the... Read more
- How do gifting limits work?
- Gift contributions count towards your standard contribution limit for the year. Friends and family will be prevented from making gift contributions that go beyond the gifting limit you set, but gift contributions could also be capped by contributions you make. For example, if your gifting limit is... Read more
- What happens after the death of a beneficiary? Is there a Medicaid payback?
- In the event of the death of a beneficiary, the funds from their ABLE account can be used by their estate to repay any outstanding eligible expenses and funeral and burial costs. Remaining funds will be transferred to the estate of the beneficiary. Medicaid in some states is restricted from filing... Read more
- Are contributions to an ABLE for ALL account considered to be an asset?
- The money in an ABLE for ALL account is not considered to be an asset for state and federal benefit purposes. This includes SSI, Medicaid, HUD housing assistance, SNAP, FAFSA applications, and more. For Supplemental Security Income (SSI) benefits only, you can have up to $100,000 in the ABLE for... Read more
- Can I give other individuals access to my account?
- Only you, the ABLE for ALL account owner, should access your account online with your email and password. For security reasons, you should not share your login information with anyone unless they are your Authorized Legal Representative (ALR). If you want to change the ALR for your account, give us... Read more
- How do I close my account?
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Please give us a call and we’ll help you to formally close your ABLE for ALL account. You can reach us at 1-844-999-2253, 9am-8pm ET. We’ll be sad to see you go.
- How do I make withdrawals from my account? How long do they take?
- It’s easy to make withdrawals from your ABLE for ALL Savings Plan account online. You can withdraw as little as $5 each time and transfer that money into any bank account linked to your ABLE for ALL account. If you have more than one investment, you can decide which investment you’d like to pull... Read more
- What is the Cash Option?
- The Cash option protects the balance in your ABLE for ALL account by putting all your assets (up to $250,000) into an FDIC-insured account, which means the federal government guarantees you will not lose the money you saved. With a low level of risk, there may also be a lower level of returns. The... Read more
- How do I change my investment options?
- When you create an ABLE for ALL Savings Plan account, you'll have a chance to choose which portfolio you want to contribute to. Review your investment options here to see what's available. There are two ways to change your account's investment choices: You can sell your portfolio and invest the... Read more
- How do I choose an investment option?
- When setting up your ABLE for ALL Savings Plan account, you can save money in a cash option, investment option, or both. The choice is up to you. If you decide to invest all or some of the money, there are three investment options to choose from: ABLE Conservative, ABLE Moderate, and ABLE... Read more
