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(testamentary trust) or by a third party other than a spouse or someone acting on behalf of the applicant/recipient and funded with the assets of another person(s). 2615.80.00 LEGAL GUARDIANSHIP/REPRESENTATIVE PAYEE (MED) An individual who serves as legal guardian/representative payee for another person is responsible for administering that person's funds and will be listed in bank records as having access to their bank accounts. Resources that are managed by an individual's legal guardian, representative payee, or other person acting as an agent on behalf of the applicant/recipient are counted as resources to the individual. The resources are not counted as being available to the guardian/payee for their own use. However, the resources must be held in a form that clearly shows they belong to another individual. For example, a bank account that is held by the guardian/payee must be clearly designated as being administered by the guardian/payee on another person's behalf. 2615.90.00 PRORATED INCOME Income that is prorated (educational income, self-employment income) cannot be counted as a resource for any month during the prorated period. 2615.95.00 PRESUMPTION OF LIQUIDITY (MED 1) Resources are explained as real property or personal property that is owned solely or jointly by an individual (refer to Section 2605.05.00). These property types are generally broken down into two categories: liquid and non-liquid. Liquid resources consist of personal property which can be converted to cash within 20 working days. See Section 2605.05.00 for examples of resources which are ordinarily liquid. Liquid resources, other than cash, are evaluated according to the individual's equity in the resources. 51 Non-liquid resources consist of all real property and some personal properties which cannot be converted to cash within 20 working days. For treatment of non-exempt real property, refer to Section 2620.20.00. For purposes of this section, it is assumed that the following types of personal property are non-liquid: loan agreements automobiles, machinery, livestock, noncash business property. It is presumed that all other types of personal property not contained in the list are liquid, can be converted to cash within 20 workdays and are countable as resources.