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801 Countable Assets
A. Determine whose assets are countable to the Assistance unit: 1. Consider Available assets of all assistance unit members as countable to the other assistance unit members; 2. Consider the POWER/POWER-SASFA, Tribal TANF and/or SSI Recipient asset eligible and Exempt the individual’s assets due to categorical eligibility (see Section 502); 3. See Section 507 for treatment of assets of an excluded, sanctioned or Disqualified individual. | |||
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B.
Assets are exempt from consideration for the EDI program. C. Determine whose assets are countable to the assistance unit for HICMA/SSI programs. 1. The assets of a natural or adoptive parent and/or Stepparent are available to a child except: a. A child who is disabled and received or is receiving SSI while in an Institution; or b. A child who is applying for the Developmentally Disabled or Mental Health HCBS programs. 2. The assets of a spouse are available to the other spouse; 3. The assets of a child are available to the parent excluding HICMA/SSI programs; 4. The assets of a stepparent are not available except a stepparent who is married to the natural or adoptive parent are available to a child for HICMA/SSI programs. D. Review assets in a HICMA case: 1. Monthly, when over $1,700; 2. Quarterly, when between $1,300 and $1,700; 3. Annually, when less than $1,300.
E. Consider for assistance units living together in the same Household the assets of: 1. A spouse are available to the spouse; and 2. A parent are available to a child through age 18, or up to age 19 if expected to graduate, except when the Minor is emancipated; 3. See Section 507 for additional information on treatment of assets for excluded individuals. | |||
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| F. Use the cash, trade-in or fair market value, less the unpaid principal or legal encumbrances to determine the equity value of the nonexempt asset which is then used to determine eligibility. G. Require the Applicant or recipient to obtain appraisals when the value of the asset(s) causes ineligibility and is disputed by the applicant or recipient.
H.
DO
NOT exempt the asset
when exempt and nonexempt
funds are commingled .
1.
Encourage
the assistance unit to separate
the exempt and nonexempt
assets;
2.
Continue
to exempt, for Food Stamp
purposes only, the self-employment funds (see
Section 903)
over
the Period of intended use, the commingled educational funds (see
Section 505) for six months and
all other exempt funds for
six months.
I.
Evaluate the assets
as of the first moment of the first day of each Month:
1.
DO
NOT count Income
as a asset in the same month
it is used as income; 2.
Consider assets acquired, or that increase in value,
during the month to be an asset, but do not establish an overpayment
when it could not be reasonably expected to be received 3.
Evaluate assets
acquired or that increase in
value during the month as
of the first moment of the following month;
4.
Consider
any outstanding checks as a legal
encumbrance when evaluating the checking account. J.
Consider only the available assets at the time of the interview
when determining eligibility for the month of Application. 1.
Evaluate assets acquired or that increase in value
during the month as of the first moment of the following
month; 2.
Consider assets acquired, or that increase in value,
during the month to be an asset but do not establish an overpayment
when it could not be reasonably expected to be received, including a
lump sum; 3.
DO NOT count income as an asset in the same month
it is used as income; 4.
Consider any outstanding checks as a legal encumbrance
when evaluating the checking account; 5.
No further consideration is given to assets unless the household
anticipates it will go over the asset limit in a future month of the
certification period, or |
