It depends — if you’re an eligible Beneficiary with a Representative Payee, you can open an Account for yourself. To have a Representative Payee open an Account for you, they must meet the requirements of an Authorized Legal Representative (such as a Parent, legal guardian, or power of attorney). Because the role of Representative Payee is specific and unique to Social Security benefits, it doesn’t apply to ABLE Accounts. Find out more about who can open an Account.
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. 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 a Parent, legal guardian or a person authorized under a power of attorney. The ALR may neither have, nor acquire, any beneficial interest in the ABLE Account during the Beneficiary’s lifetime and must administer the ABLE United Account for the benefit of the Beneficiary. Learn more about the ALR role.
A social security representative payee who has power of attorney can qualify as an ALR and can open an ABLE United Account for an eligible Beneficiary. Please note, a Beneficiary can only have one ABLE Account at a time.