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Personal Belongings Personal belongings that are significant assets such as valuable jewelry, antiques and abovetheground swimming pools are considered available resources. Their value may be obtained from reputable dealers. Other personal belongings will only be considered in the maximum limit if they are valued at an unusually large amount. Property Owned in Common or Jointly When an individual owns in common or jointly with others property which is not a homestead, consider as available to him his pro rata share of the net value and test in the maximum limit. NOTE: When minor children are involved, the value of the property will be disregarded when the

payee documents that the court has refused to allow the sale or that the court costs would make the sale unprofitable to anyone. If unusual cases of hardship arise, refer the case to the Economic Assistance Policy Unit, State Operations. Real Property Other Than the Home Real property other than the home consists of any real property in which the individual has an interest or which he owns outright, and which is not part of the home place. The use of the property should be explored. When an individual owns property other than the home in his name, determine its net value using the fair market value minus any legal debt. This is considered in the $2000 maximum limit. Retirement Plans Retirement plans that are not authorized under section 401, 401(a), 403(a), 403(b), 408, 408A, 408(k), 408(p), 457(b), and 501(c) (18) of the IRS code, or section 8439 of Title 5, United States code, are considered as countable resources. See discussion under Resources to be Excluded, Retirement Plans later in this chapter. Stocks, Bonds and Certificates of Deposit Determine the possession of stocks, bonds, and certificates of deposit by careful discussion with the individual, exploring past earnings, employment and resources. Obtain the value of stocks or bonds from the company issuing the stock or from an investment company. It is usually possible to obtain the value of commercial stocks from a broker. Obtain the value of United States savings bonds and CD s from the bonds and CD s themselves, if in the possession of the individual, or ask him to obtain this from his bank. Since the owner of a savings bond cannot obtain the value except by cashing in the bond, the yearly interest will not be considered income. The value of the bond will increase each year. Most stocks and CD s produce income which must be considered as such. MISSISSIPPI [ RESOURCES: RESOURCES TO BE INCLUDED ]

Revised 03 - 01 - 09