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1. Exclude liquid assets needed to operate a business currently in operation (including period when the sole proprietor is unable to work but business has not been discontinued), or assets associated with self-employment, a trade, or a farming operation. 2. Verify status of bank accounts used in the operation of a business, but held in the name of a financially responsible person: a. Doing Business As account—Verify with the bank and the records of the DBA account that those funds are not used for personal bills. b. Commingled with personal funds—If the bank account is used for personal and business transactions, the business assets must be separately identified to be excluded. 3. If a business account in the name of business or corporation is totally separate from personal funds, exclude the account. Count the income of the business. 4. Count the liquid assets of a business or farming operation which has been formally discontinued or sold. 5. If the business is incorporated, count the client’s share of the corporation (his stock). N. Proceeds of a Loan 1. When the a/b or financially responsible spouse/parent is the borrower, the balance remaining on the first moment of the month following receipt is a countable resource. 2. When the individual is granted a line of credit, only the amount of money he actually receives is considered proceeds of a loan. 3. If the proceeds of a loan are given away in the month of receipt, apply transfer of resources policy in MA-2240, Transfer of Assets. O. Revocable Burial Contract Count a revocable burial contract/trust which can be converted to cash. See instructions in Item XIII., below, if the a/b has excess resources. P. Reverse Mortgage Payments A reverse mortgage is an agreement in which a lending company makes regular payments to a homeowner during a specific period of time. The payment is based upon the equity in the home. The homeowner is allowed to remain in the home until death or a prearranged date. At that time the home is sold and the lender repaid. Count as an available resource any proceeds from a reverse mortgage payment which the a/b retains at the first of the month following receipt. If the proceeds of a reverse mortgage are given away in the month of receipt, apply transfer of resource policy in 76