The individual with a disability (“Beneficiary”) must be a Florida resident at the time of application and have a qualifying disability with onset prior to age 26 (age change coming soon). If the Beneficiary is able and chooses to exercise signature authority over the account, they are also the Administrator.
If the Beneficiary is under 18 or is unable, or chooses not, to exercise signature authority over the account, then “Administrator” refers to an Authorized Legal Representative (“ALR”).
An ALR is a Custodian for the Beneficiary, such as an individual selected by the Beneficiary, or the eligible individual’s agent under a power of attorney, conservator or legal guardian, the spouse, a parent, a sibling, a grandparent, or a representative payee (whether an individual or organization) appointed by the Social Security Administration (SSA), in that order. It is noted that the representative payee is subject to all applicable SSA rules. The ALR may neither have, nor acquire, any beneficial interest in the account during the Beneficiary’s lifetime and must administer the account for the benefit of the Beneficiary. Learn more about the ALR role.
Please note, a Beneficiary can only have one ABLE account at a time.
