FAQs
Answers at your fingertips
You can scroll through the FAQs or click on a category below to scroll to that section of the page.
- About ABLE
- ALR
- Benefits
- Contributions
- Eligibility
- Fees
- General
- Gifting
- How the Account Works
- Linking Bank Accounts
- Opening an Account
- Prepaid Card
- Qualified Expenses
- Successors and Estates
- Tax Benefits
- Is there a minimum to open an account?
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You need $25 to get the account started. After that, you can add as little as $5 at any time.
- Can a Social Security Representative Payee open an account for a beneficiary?
- Yes. To have a Representative Payee open an account for you, they must meet the requirements of an Authorized Legal Representative (anyone who is selected by the eligible beneficiary with legal capacity, anyone who has Power of Attorney, a conservator or legal guardian, or a spouse, parent,... Read more
- Is the ABLE account considered part of the estate after the death of a beneficiary?
- Yes. As part of the estate, funds in the ABLE account are subject to federal estate tax. After the death of the beneficiary, the remaining funds will be taxed and can be used to pay any outstanding qualified disability expenses of the decedent and any State claim under section 529A(f) before they... Read more
- What is a successor designated beneficiary?
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A successor for an ABLE account must be a sibling, step-sibling, or half-sibling of the Account Owner and must also qualify for an ABLE account. A successor must be added to the account before the death of the beneficiary.
- Is there a mobile app for Alabama ABLE Savings Plan?
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If you already have an account, you can download the Vestwell app for iOS and log in using your Alabama ABLE Savings Plan account username and password. You can then make withdrawals, contributions, share gifting pages, and more whenever and wherever you want.
