Who Can Open an Account?

Eligible Individual is Over Age 18

Has Legal Capacity

If the Eligible Individual has legal capacity, they may open their own Account or elect to have an Authorized Individual open and manage an Account on their behalf. For more information, review our Plan Disclosure Booklet.

Lacks Legal Capacity

If the Eligible Individual does not have legal capacity to act on his/her own behalf in financial matters an Authorized Individual may open and manage the Account on behalf of the Account Owner. No documentation is required; however, Authorized Individuals must certify under penalties of perjury that no other person with a higher priority in the following list is willing or able to act as an Authorized Individual, and notify IAble if their authority expires or is removed.

1. Power of Attorney (person or entity)

2. Conservator (person or entity)

3. Spouse

4. Parent

5. Sibling

6. Grandparent

7. Representative payee appointed by the Social Security Administration (person or entity)

Eligible Individual is Under Age 18

A parent or individual with Financial Authority can open the Account on their behalf. 

There is no requirement to submit documentation to prove you have Financial Authority to act on behalf of the Account Owner. For more information, review our Plan Disclosure Booklet.

Under all circumstances, the Eligible Individual with a disability is always the Account Owner and the beneficiary of the IAble Account.