008.04 EXCLUDED RESOURCES.

The following are excluded resources: (A) Real property which the unit owns and occupies as a home; (B) Goods used in the home; (C) Clothing; (D) One motor vehicle if it is used for employment or medical transportation; (E) Certain trusts, including guardianships, set up for one or more of the children in the Aid to Dependent Children unit; (F) The cash value of life insurance policies; (G) Certain life estates in real property; (H) Irrevocable burial trusts up to $3,000 per individual and the interest if irrevocable; (I) Proceeds of an insurance policy that is irrevocably assigned for the purpose of burial of an individual in the Aid to Dependent Children unit; (J) Burial spaces; (K) Funds set aside by the Veterans Administration under the Veterans Education and Employment Assistance Act for the Future education expenses of a veteran; (L) Payments from the Indian Claims Commission; (M) Income received annually, semi-annually, or quarterly which is prorated on a monthly basis and included in Aid to Dependent Children eligibility determination. This is excluded over the period of time it is considered income; (N) Stocks, inventories, and supplies used in self-employment; (O) United States savings bonds are excluded for the initial six-month mandatory retention period; (P) An unavailable job-related retirement account that is held by the employer; (Q) The unspent portion of any Retirement, Survivors Disability Insurance or Supplemental Security Income retroactive payments are excluded for six months following the month of receipt; (R) An Individual Development Account set up for postsecondary education, purchase of an individual’s first home, or establishment of a business; and (S) Disregarded income.