Able Accounts

What is an ABLE account?

ABLE Accounts are tax -advantaged investment accounts that help qualified individuals with disabilities, and their families, save for disability-related expenses with out losing their federal benefits. (broad definition of disability - physical, mental, developmental, military-induced.)

  Eligibility

  • Onset of disability* before age 26, and

  • Meet disability requirements for SSI or SSDI, OR Have a " disability certification" signed by doctor

ABLE Accounts

  • Sign up online - $25 minimum to open account

  • $IO minimum withdrawal or contribution amount

  • $35 annual management fee

Investment Options

  • Conservative , moderate and aggressive

  • Savings option is FDIC-insured

Washington ABLE Program Features

  • Prepaid debit card

  • Gifting platform

  • ADA+ compliant website

  • Customer call center assistance

Account Limitations

  • $15,000 annual contribution limit

  • $100,000 limit before SSI benefits are impacted Washington has a $500,000 lifetime account limit for account owners not receiving SSI benefits

Qualified Expenses

Expenses which help improve health, independence and/or quality of life :

  • Education Housing

  • Basic Living Expenses Transportation

  • Employment Training & Support Assistive Technology

  • Personal Support Services Health, Prevention & Wellness Financial Management

  • Legal Fees Funeral & Burial

Able Accounts and Trust Funds Overview

Here are some educational videos about Able accounts and trust funds:

An Overview of ABLE Accounts

An Overview of Special Needs Trusts

Special Needs Trusts and ABLE Accounts: How Are They Different?

Pooled Special Needs Trusts

Here are the videos in Spanish:

Descripción General de las Cuentas ABLE

Descripción General de los Fideicomisos Para Necesidades Especiales

Fideicomisos Para Necesidades Especiales y Cuentas ABLE: ¿En qué se diferencian?

Fideicomisos Para Necesidades Especiales Agrupados


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Developmental Disabilities Endowment Trust Fund