Wash. Admin. Code § 388-470-0045 - How do my resources count toward the resource limits for cash assistance?
(1) We count the
following resources toward your assistance unit's resource limits for cash
assistance to decide if you are eligible for benefits under WAC
388-470-0005:
(a) Liquid resources not specifically
excluded in subsection (2) of this section, including but not limited to:
(i) Cash on hand;
(ii) Money in checking or savings
accounts;
(iii) Money market
accounts or certificates of deposit (CD) less any withdrawal penalty;
(iv) Stocks, bonds, annuities, or mutual
funds less any early withdrawal penalty;
(v) Available trusts or trust
accounts;
(vi) Lump sum payments as
described in chapter 388-455 WAC; and
(vii) Any funds retained beyond the month of
receipt from conversion of federally protected rights or extraction of exempt
resources by members of a federally recognized tribe that are in the form of
countable resources;
(b)
The cash surrender value (CSV) of whole life insurance policies;
(c) The CSV over $1,500 of revocable burial
insurance policies or funeral agreements;
(d) The amount of a child's irrevocable
educational trust fund that is over $4,000 per child;
(e) Funds withdrawn from an individual
development account (IDA) if they were removed for a purpose other than those
specified in
RCW
74.08A.220;
(f) Any real property like a home, land, or
building not specifically excluded in this section;
(g) The equity value of vehicles as described
in WAC 388-470-0070;
(h) Resources of a sponsor as described in
WAC 388-470-0060;
(i) Sales contracts; and
(j) Personal property that is not:
(i) A household good;
(ii) Needed for self-employment; or
(iii) Of great sentimental value due to
personal attachment or hobby interest.
(2) The following types of liquid resources
do not count when we determine your eligibility:
(a) Bona fide loans, including student
loans;
(b) Basic food
benefits;
(c) Income tax refunds
for 12 months from the date of receipt;
(d) Earned income tax credit (EITC) in the
month received and for up to 12 months;
(e) Advance earned income tax credit
payments;
(f) Washington's working
families tax credit (WFTC);
(g)
Federal economic stimulus payments that are excluded for federal and federally
assisted state programs;
(h)
Individual development accounts (IDAs) established under
RCW
74.08A.220;
(i) Retroactive cash benefits or TANF/SFA
benefits resulting from a court order modifying a department
decision;
(j) Underpayments
received under chapter 388-410 WAC;
(k) Educational benefits that are excluded as
income under WAC
388-450-0035;
(l) The income and resources of an SSI
recipient;
(m) A bank account
jointly owned with an SSI recipient if SSA already counted the money for SSI
purposes;
(n) Foster care payments
provided under Title IV-E, state foster care maintenance payments, or
both;
(o) Adoption support
payments;
(p) All funds in an
achieving a better life experience (ABLE) account;
(q) Self-employment accounts receivable that
the client has billed to the customer but has been unable to collect;
(r) Retirement funds or pension benefits;
and
(s) Resources specifically
excluded by federal law.
(3) The following types of real property do
not count when we determine your eligibility:
(a) Your home and the surrounding property
that you, your spouse, or your dependents live in;
(b) A house you do not live in, if you plan
to return to the home and are out of the home because of:
(i) Employment;
(ii) Training for future
employment;
(iii) Illness;
or
(iv) Natural disaster or
casualty;
(c) Indian
lands held jointly with a tribe or land that can be sold only with the approval
of the Bureau of Indian Affairs; and
(d) Property that:
(i) You are making a good faith effort to
sell;
(ii) You intend to build a
home on, if you do not already own a home;
(iii) Produces income consistent with its
fair market value, even if used only on a seasonal basis; or
(iv) A household member needs for employment
or self-employment.
(4) Property excluded under subsection
(3)(d)(iv) of this section used by a self-employed farmer or fisher retains its
exclusion for one year after the household member stops farming or
fishing.
(5) If you deposit
excluded liquid resources into a bank account with countable liquid resources,
we do not count the excluded liquid resources for six months from the date of
deposit.
(6) If you sell your home,
you have 90 days to reinvest the sale proceeds into an exempt
resource.
(7) If you do not
reinvest within 90 days, we will determine whether there is good cause to allow
more time. If we determine you have good cause, we will give you more time
based on your circumstances. If you do not have good cause, we will count your
sale proceeds as a resource. Some examples of good cause include:
(a) Closing on your new home is taking longer
than anticipated;
(b) You are
unable to find a new home that you can afford;
(c) Someone in your household is receiving
emergent medical care;
(d) Your
children are in school and moving would require them to change
schools.
Notes
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