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COMAR 10.09.24.01-.16 1674 State of Maryland Medical Assistance Manual Revised July 2012

.08 Consideration of Resources. A. This regulation contains the rules for considering resources of members of the assistance unit and those persons whose income and resources are considered pursuant to Regulation .06 of this chapter in determining financial eligibility of an assistance unit for retroactive and current eligibility for the period under consideration. B. Definitions. (1) "Account" means cash savings or any other form of liquid resource in a bank, credit union, savings and loan association, or any other financial institution in which the resource is subject to withdrawal by the owner or owners of the account. (2) Automobile. (a) "Automobile" means a passenger car or any other vehicle used to provide necessary transportation. (b) "Automobile" does not mean an airplane, farm machinery, or a vehicle used solely for recreational purposes. (3) "Burial funds" means a revocable burial contract, burial trust, or other burial arrangement or any other separately identifiable fund which is clearly designated as set aside for a person's burial expenses. (4) "Burial spaces" means conventional gravesites, crypts, mausoleums, urns, and other repositories which are customarily and traditionally used for the remains of deceased persons. (5) "Equity value" means the fair market value of property less any legal debt on the property. (6) "Fair market value" means the amount for which property can be sold on the open market in a particular geographical area. (7) "Funds in an irrevocable trust or other irrevocable arrangement that are available to meet burial expenses" means funds which are held in an irrevocable burial contract, an irrevocable burial trust, or an amount in an irrevocable trust which is specifically identified as available for burial expenses. (8) "Home" means any shelter in which a member of the assistance unit or any person whose income and resources are considered in determining the financial eligibility of the assistance unit, has an ownership interest and uses as his principal place of residence. The home includes the parcel of land on which the shelter is situated and any related outbuildings necessary to its operation. Only one residence may be considered home property. (9) "Immediate family" means a person's spouse or a person's minor and adult children, including adopted children and stepchildren, or a person's brothers, sisters, parents, adoptive parents, and