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2. Document the lookback date in the case record.
3. When there has been a transfer of assets on or after the lookback date, verify the following information based on policy rules in MA-2230, Financial Resources. a. A description of the asset transferred (the homesite, other real property, life estate, remainder or tenancy-in-common interest in real property, cash, lump sum, vehicles, stocks, bank account, certificate of deposit, etc.). b. The person who transferred the asset (a/b, spouse, legal representative).
c. The name of the person(s) to whom the asset was transferred. d. The a/b's relationship to the individual to whom the asset was transferred.
e. The value of the asset at the time of the transfer.
f. The compensation (money or other benefit) received or expected from the transferred asset.
g. The date the asset was transferred.
h. Whether the a/b was the sole owner of the asset at the time of the transfer; if not, the name of any co-owners.
i. Whether the a/b still retains any ownership right in the asset.
V. EXPLORING TRANSFER OF ASSETS
When determining if any transfers have occurred the local agency must explore all assets on all applications, recertifications, and changes in circumstance for a/bs requesting or receiving institutional services. Evaluate the evidence presented. The evidence might reveal another reason for the transfer other than to establish or retain Medicaid eligibility. Reminder, the request should not be completed until the Lookback date has been established. Therefore, a transfer of assets evaluation cannot be started until the a/b has been institutionalized for cost of care or requested CAP or PACE.
A. Criteria for requesting Transfer of Asset information:
1. Do not delay or deny approval of institutional services for failure to provide information requested to complete the transfer of assets evaluation when an a/b makes an initial application or request for institutional services. a. Request information needed to determine transfers of assets along with other eligibility information needed. b. Indicate on the request that the transfer of assets items are not required for determination of institutional services. However, they will be required to continue receiving institutional services.