Topic: Resource
How to consider contracts for Deeds as Income / Resources
340:50-7-22(1) Gift cards issued by Visa and MasterCard can be easily used as cash in any store, including those which sell food. These types of cards should be counted as cash on hand for the purpose of the Supplemental Nutrition Assistance Program resource test. Other gift cards that can be converted to cash should be […]
Effective 09/01/2016 Home Property in a revocable trust is considered an available resource. When a client’s home property is in a revocable trust, the worker informs the client or his or her representative that the home property exemption does not apply unless the property is removed from the revocable trust. The worker provides the client […]
An annuity gives the right to receive fixed, periodic payments either for life or a term of years. The annuity instrument must be examined to determine the provisions and requirements of the annuity and whether the individual can access the principal. Annuities purchased prior to February 1, 2005 If it is determined that the […]
Interviews are conducted for the purpose of assessing the needs of the individual making application to determine if additional services are needed and to obtain or request the necessary income and resource documentation to determine financial eligibility for the services being requested. If applicant is a recipient of SSI, see SSI-Criteria State articles. The interview […]
The resource standard for an individual is as shown on Appendix C-1 , Schedule VIII.D If applicant has a spouse, refer to article LTC: Spousal Impoverishment. Exempt Resources: Home Property (under certain circumstances) refer to article LTC: Home Property Overview. One Automobile, if it is used for transportation of the individual or member of the […]
Revocable burial fund – revocable means the grantor has retained the right to terminate or revoke the burial fund and reclaim the trust principal and income. A burial fund is a prepaid funeral contract or burial trust with a funeral home or burial association which is for the person’s burial expenses. Policy regarding this term […]
Liquid Resource – cash and other types of savings or investment funds which can be easily converted to cash such as checking or savings account balances, the cash value of savings certificates, and the cash value of stocks or bonds.
Documentary evidence – information an applicant or recipient must provide to determine program eligibility. Also refer to Verification. Policy regarding this term is located at: Child Care Subsidy: 340:40-7-3.1. Child with disabilities; 340:40-7-4. Identity and Social Security number; 340:40-7-5. Resources, residence, and citizenship; 340:40-7-13. Computation of income. LIHEAP: 340:20-1-11. Income and liquid resources; and 340:20-1-13. […]
If client has life insurance only.