407 TREATMENT OF RESOURCES (FSM)

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Resources are either excluded or countable depending on the type of assistance requested.

• Count the equity value of all countable resources unless otherwise specified.

• If the individual has excluded resources combined with countable resources, the individual must verify the portion that is excludable. Encourage the individual to keep excluded resources separately from countable resources.

• Excluded money combined in an account with nonexcluded money remains excluded for 6 months from the date of merging. After 6 months, all funds in the merged account are countable.

 Exception: Excluded lump sum income of minors and self-employed households that has been prorated as income remains excluded when it is merged in an account with nonexcluded money. The exclusion lasts for the period of time over which the lump sum has been prorated as income.

• Exclude resources (not including vehicles) that have a cash value less than $2,000 and would cost the household more than 75% of the cash value in sales-related fees and expenses.

• Exclude resources (not including stocks, bonds and negotiable financial instruments) if the household is not able to sell the resource for a significant return, and therefore, the sale would not produce significant funds to support the household.

- A significant return is any return which is estimated to be more than one half of the household’s resource limit.

 Exception: For vehicles, a significant return is any return which is likely to produce more than $1500 for the household.

- Consider the household’s interest in the resource, and the estimated cost of the sale or disposition of the resource when determining if significant return exists.

See also Inaccessible Resource in Part 409.

References: He-W 741.01; RSA 161:2, XIII; RSA 161:4-a, IV; RSA 167:4, I(a); RSA 167:7, IV; 7 CFR 273.8; 7 USC 2014(g)