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Chapter: 1600 Assets Program: CIC 6

1. unearned income if made available through installment payments, or 2. an asset in the month received if made available as a lump sum payment.

1650.0506 Verification of Bank Account (CIC) Information required for verification of an individual's bank account assets includes the:

1. type of account; 2. name and location of the financial institution; 3. names of any joint owners; and 4. amount of the balance.

The current bank account statement or other statements from the facility are verification sources.

Verification of a time deposit certificate must include information on when the funds can be withdrawn and any penalties for early withdrawal. If the individual cannot provide this information, the eligibility specialist must request the information from the individual's financial institution. 1650.0507 Burial Contracts and Other Burial Assets (CIC) This section provides information on burial related assets such as:

1. funeral agreements, 2. prepaid burial contracts, 3. irrevocable burial trusts, 4. burial exclusion policy, and 5. burial spaces. 1650.0508 Funeral Agreement (CIC) Funeral agreements are any arrangements with a legitimate funeral service provider to pay for burial expenses. Examples of funeral agreements include items such as burial trusts and any burial contracts regardless of whether they are revocable or irrevocable.

Each assistance group member can exclude a maximum of $1,500 of equity value in a single funeral agreement. Any additional funeral agreement amounts are included as an asset. 1650.0515 Burial Spaces/Plots (CIC) The following are considered burial spaces or plots:

1. conventional grave sites, 2. crypts, 3. mausoleums, and 4. urns. 1650.0517 Verification of Burial Spaces (CIC) Sources of verification include documents such as deeds to cemetery lots or sales contracts for the purchase of cemetery lots.

There may be more than one gravesite per burial plot. If there is a question as to what constitutes a burial plot the case must be examined by the Circuit Legal Counsel.

For funeral agreements, verification includes copies of the funeral contract or agreement or a letter from the funeral services provider outlining the type and terms of the contract.