WV INCOME MAINTENANCE MANUAL
CHAPTER 11
TABLE OF CONTENTS
Assets
11.1
DEFINITIONS ..................................................................................................................1
11.2
INTRODUCTION .............................................................................................................9
A.
ESTABLISHING DATE OF ASSET ELIGIBILITY ..................................................9
1.
2.
3.
B.
WHEN INCOME BECOMES AN ASSET ............................................................ 11
C.
DETERMINATION OF THE VALUE OF COUNTABLE ASSETS ....................... 11
D.
ACCESSIBILITY OF ASSETS ............................................................................ 11
E.
CONVERSION OR SALE OF AN ASSET ......................................................... 12a
F.
COMPENSATION FOR LOSS OR DAMAGE ..................................................... 14
11.3
MAXIMUM ALLOWABLE ASSETS .............................................................................. 17
11.4
LIST OF ASSETS .......................................................................................................... 18
A.
AGENT ORANGE COMPENSATION ................................................................. 19
B.
ANNUITIES ........................................................................................................ 19
C.
BANK ACCOUNTS AND CD's ............................................................................ 20
1.
2.
3.
4.
5.
6.
7.
8.
Savings Accounts ..................................................................................... 20
Christmas Clubs ....................................................................................... 20
Checking Accounts ................................................................................... 20
Certificates Of Deposit (CD's)................................................................... 20
Deposits By Others................................................................................. 20a
Dedicated Account For SSI Recipient .................................................... 20a
HUD Family Self-Sufficiency Escrow Account and Individual
Development Accounts .......................................................................... 20a
Individual Development Accounts (IDA) ................................................... 21
D.
BONDS - U.S. SAVINGS BONDS....................................................................... 21
E.
BURIAL FUNDS AND PLOTS ............................................................................ 21
1.
2.
1/11
SSI-Related Medicaid, CDCS, PAC, QDWI, QMB, SLIMB And QI-1 ........9
SNAP Benefits .......................................................................................... 10
All Others.................................................................................................. 10
Burial Funds ............................................................................................. 21
Burial Plots ............................................................................................... 21
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WV INCOME MAINTENANCE MANUAL
CHAPTER 11
TABLE OF CONTENTS
Assets
F.
BUSINESS AND NON-BUSINESS PERSONAL PROPERTY ............................ 22
1.
2.
G.
CASH ON HAND/CASH SAVINGS .................................................................... 26
H.
COLLECTIONS ................................................................................................... 26
I.
CONTINUING CARE RETIREMENT COMMUNITY (CCRC) ............................. 27
J.
CORPORATION FOR NATIONAL AND COMMUNITY SERVICE (CNCS) ........ 27
K.
DISASTER ASSISTANCE................................................................................... 27
L.
EDUCATIONAL FUNDS .................................................................................... 27
1.
2.
3.
Grants, Loans and Scholarships .............................................................. 27
SMART529 Plan and Pre-Paid College Tuition Plans ............................. 28
Coverdell Education Savings Accounts ................................................... 28
M.
EITC (Earned Income Tax Credits) .................................................................... 28
N.
EQUIPMENT ESSENTIAL FOR EMPLOYMENT .............................................. 28a
O.
FACTOR VIII OR IX BLOOD PRODUCTS LITIGATION ..................................... 29
P.
PHILIPINO VETERANS EQUITY COMPENSATION FUND ............................... 29
Q.
GIFT CARDS / CERTFICATES ......................................................................... 29
R.
HEMOPHILIA/AIDS SETTLEMENTS AND FUNDS ............................................ 30
1.
2.
3.
1/11
Business Personal Property .................................................................... 22
Non-Business Personal Property ............................................................. 23
Factor VIII Or IX Concentrate Blood Products Litigation........................... 30
Ricky Ray Hemophilia Funds ................................................................... 30
Walker v. Bayer, et al Settlements............................................................ 30
S.
HIGHWAY RELOCATION ASSISTANCE PAYMENTS AND
URBAN RENEWAL RELOCATION PAYMENTS ................................................ 30
T.
HOUSEHOLD FURNISHINGS, PERSONAL EFFECTS AND PETS .................. 31
U.
INCOME TAX REFUNDS AND REBATES ........................................................ 31
V.
INDIAN LANDS AND TRUST FUNDS ................................................................ 31
W.
INSURANCE SETTLEMENTS ............................................................................ 31
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WV INCOME MAINTENANCE MANUAL
CHAPTER 11
TABLE OF CONTENTS
Assets
X.
JAPANESE-AMERICAN AND ALEUTIAN RESTITUTION PAYMENTS ............ 31
Y.
LAND SALE CONTRACT ................................................................................... 32
Z.
LIFE INSURANCE (Cash-Surrender Value)........................................................ 32
AA.
LIEAP AND ENERGY CRISIS INTERVENTION PAYMENTS ............................ 32
BB.
LOANS, NON-EDUCATIONAL ........................................................................... 32
CC.
LUMP SUM PAYMENTS..................................................................................... 33
DD.
MUTUAL FUNDS .............................................................................................. 34a
EE.
NAZI PERSECUTION VICTIMS PAYMENTS ................................................... 34a
FF.
NORTH VIETNAM – DEPARTMENT OF DEFENSE (DOD) PAYMENTS TO
PERSONS CAPTURED AND INTERNED ........................................................ 34a
GG.
PASS ACCOUNT ................................................................................................ 35
HH.
PENSION AND OTHER RETIREMENT FUNDS ................................................ 35
1.
2.
3.
II.
PRODUCE AND LIVESTOCK FOR HOME CONSUMPTION............................. 37
JJ.
PROMISSORY NOTES ...................................................................................... 37
KK.
RADIATION EXPOSURE COMPENSATION FUND .......................................... 37
LL.
REAL PROPERTY .............................................................................................. 37
1.
2.
3.
4.
5.
1/11
Cash Value Of Pension Funds ................................................................. 35
401k Plans................................................................................................ 35
IRA, Keogh, Simplified Employer Pension Plan Or Similar Plans............. 36
Homestead Property................................................................................. 37
Sale Proceeds Or Compensation For Loss Or Damage ......................... 38a
Non-Homestead Property ....................................................................... 38a
Life Estates............................................................................................... 41
Real Property Related To Vehicle Maintenance ....................................... 42
MM.
RECREATIONAL EQUIPMENT .......................................................................... 42
NN.
RECREATIONAL VEHICLES.............................................................................. 42
OO.
RICKY RAY HEMOPHILIA FUNDS .................................................................... 43
PP.
SATELLITE DISHES ........................................................................................... 43
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WV INCOME MAINTENANCE MANUAL
CHAPTER 11
TABLE OF CONTENTS
Assets
QQ.
STOCKS ............................................................................................................. 43
RR.
SUPPLEMENTAL NUTRITION ASSISTANCE PROGRAM (SNAP)
BENEFITS........................................................................................................... 43
SS.
SWIMMING POOLS ............................................................................................ 43
TT.
TRUST FUNDS ................................................................................................... 43
1.
2.
SNAP Benefits ......................................................................................... 44
WV WORKS, AFDC Medicaid, SSI Medicaid, AFDC-Related And
SSI-Related Medicaid, CDCS, PAC, QDWI, QMB, SLIMB And QI-1 ...... 45
UU.
UNIFORM GIFTS TO MINORS ACT FUNDS ..................................................... 50
VV.
VEHICLES .......................................................................................................... 50
1.
2.
3.
4.
SNAP Benefits ......................................................................................... 51
AFDC Medicaid And AFDC-Related Medicaid ........................................ 52
SSI-Related Medicaid, M-WIN, CDCS, PAC, QDWI, QMB, SLIMB
And QI-1 .................................................................................................. 55
WV WORKS ............................................................................................. 56
WW. VIETNAM VETERAN - CHILD BENEFIT ........................................................... 57
11.5
XX.
VICTIM COMPENSATION PAYMENTS ............................................................. 57
YY.
WALKER V. BAYER, ET AL. SETTLEMENTS.................................................... 57
ASSETS OF PERSONS IN SPECIAL CIRCUMSTANCES ........................................... 65
A.
SNAP BENEFITS ................................................................................................ 65
1.
2.
3.
4.
5.
6.
7.
B.
WV WORKS, AFDC MEDICAID AND AFDC-RELATED MEDICAID .................. 69
1.
2.
3.
4.
5.
1/11
Assets Of Those Disqualified, Ineligible Or Excluded By Law .................. 65
Assets Of Ineligible Students .................................................................... 65
Jointly-Owned Assets ............................................................................... 65
Special Considerations Depending On The AG Composition................... 66
Retroactive Payments .............................................................................. 68
Low Profit From The Sale Of An Asset ..................................................... 68
Burial Funds ............................................................................................. 68
Assets Of Disqualified/Ineligible Individuals ............................................. 69
Assets Of Ineligible Students .................................................................... 70
Jointly-Owned Assets ............................................................................... 70
Special Considerations Depending On The AG Composition ................... 73
Retroactive Payments .............................................................................. 73
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WV INCOME MAINTENANCE MANUAL
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Assets
6.
7.
C.
SSI-RELATED MEDICAID, CDCS, PAC, QDWI, QMB, SLIMB AND QI-1 .......... 74
1.
2.
3.
4.
5.
6.
7.
11.6
A.
SNAP BENEFITS ................................................................................................ 80
B.
WV WORKS, AFDC MEDICAID, AFDC-RELATED MEDICAID .......................... 80
C.
WV WORKS, AFDC MEDICAID ............................................................... 80
AFDC-Related Medicaid ........................................................................... 80
SSI-RELATED MEDICAID, CDCS, PAC, QDWI, QMB, SLIMB AND QI-1 .......... 80
1.
2.
Adults ....................................................................................................... 80
Children .................................................................................................... 80
TRANSFER OF ASSETS ............................................................................................ 81
A.
SNAP BENEFITS ................................................................................................ 81
1.
2.
3.
4.
Applicants ................................................................................................ 81
Recipients ................................................................................................ 81
Permissible Transfers .............................................................................. 81
Length of Disqualification ........................................................................ 81
B.
MEDICAID........................................................................................................... 82
C.
WV WORKS ....................................................................................................... 83
1.
2.
3.
4.
5.
6.
7.
8.
6/09
Assets Of Disqualified/Ineligible Individuals ............................................. 74
Assets Of Ineligible Students .................................................................... 75
Jointly-Owned Assets ............................................................................... 75
Special Considerations Depending On AG Composition .......................... 77
Retroactive Payments .............................................................................. 77
Low Profit From The Sale Of An Asset ..................................................... 78
Burial Funds ............................................................................................. 78
DETERMINING COUNTABLE ASSETS ...................................................................... 80
1.
2.
11.7
Low Profit From The Sale Of An Asset ..................................................... 73
Burial Funds ............................................................................................. 74
Definitions................................................................................................. 83
Look-Back Period .................................................................................... 84
Permissible Transfers .............................................................................. 85
Transfers Which Are Not Permissible ...................................................... 85
Transfer With Retention Of A Life Estate ................................................. 85
Transfer to Purchase An Annuity .............................................................. 86
Transfer Penalty ...................................................................................... 87
Treatment of Jointly Owned Assets ......................................................... 89
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WV INCOME MAINTENANCE MANUAL
CHAPTER 11
TABLE OF CONTENTS
Assets
6/09
APPENDIX A
LIFE ESTATE TABLE ............................................................................ A-1
APPENDIX B
TREATMENT OF MEDICAID ASSETS PRIOR TO 8/11/93 ................... B-1
APPENDIX C
INDIAN LANDS AND TRUST EXCLUDED FROM INCOME AND ASSETSC-1
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