FAQs
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- About ABLE
- ALR
- Benefits
- Contributions
- Eligibility
- Fees
- General
- Gifting
- How it Works
- Linking Bank Accounts
- Opening an Account
- Prepaid Card
- Qualified Expenses
- Successors and Estates
- Tax Info
- 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
- Can I open or manage more than one Oregon ABLE account?
- A person with a disability may only be the beneficiary of a single ABLE account. However, an individual may manage multiple ABLE accounts for different beneficiaries (i.e. an ABLE account for yourself and your child). If you serve as an Authorized Legal Representative (ALR) you can manage multiple... Read more
- If I manage multiple ABLE accounts, can I transfer funds from one ABLE account to another?
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No, as a security measure, we do not allow for the transfer of funds from one ABLE account to another ABLE account.
- Who owns the Oregon ABLE account?
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The money in an Oregon ABLE 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.
- Who can open an Oregon ABLE account?
- Any adult with a qualifying disability that developed before the age of 26 and resides in the state of Oregon can open and manage an Oregon ABLE account. Oregon ABLE accounts were designed to be managed by the person with a disability. Please note, with the passage of new federal legislation, the... Read more
