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SNAP CERTIFICATION MANUAL – SECTION 4000 5B4600 Determining and Verifying Countable Resources 30B4602 Prepaid Burial Plans

has been given permission to use will be counted as a resource. In this situation, ownership is transferred to the SNAP household.

4602 Prepaid Burial Plans SNAP Manual 01/01/99  NOTE: This policy does not apply to burial insurance. Insurance policies, including burial insurance, are totally excluded as a resource. See SNAP 4420. Prepaid burial plans purchased from funeral homes, insurance companies, etc. are totally excluded to the extent the money in the prepaid account is inaccessible to the household. A prepaid burial fund is inaccessible when the household is not allowed to withdraw money from the account or is only allowed to withdraw funds with a written agreement to repay the missing funds. Even if funds are never withdrawn from a prepaid burial plan, the ability to make withdrawals is sufficient to qualify the funds in these plans as a resource. Funds, which may be withdrawn from prepaid burial plans without a written agreement to repay the funds, are considered to be an accessible resource; however, a disregard of $1,500 per individual applies to accessible prepaid burial plans. EXAMPLE: A household consists of a man aged 75 and his wife age 75. Both the man and his wife have prepaid burial plans in the amount of $2,500. The funds in both accounts are accessible. To calculate the amount of countable resources, the worker will subtract $1,500 from each account. $2,500 - $1,500 = $1,000. $1,000 x 2 = $2,000. The amount of countable resources in the prepaid burial plans is$2,000.

4610 Bonds SNAP Manual 07/01/01 The total current surrender value of all bonds held by the household will be considered a countable resource. Cash surrender value of bonds is determined by use of a schedule. Schedules may be obtained from the household or from a bank, savings and loan, or broker. Information about the redemption value of U. S. Savings Bonds may be obtained from most banks or through the internet at http://www.savingsbonds.gov/BC/SBCPrice. Information is also available from: Federal Reserve Bank 325 W. Capitol Little Rock, AR 72201