Page 7

Income Producing Resources Continued

Elective Share of a Spouse’s Augmented Estate Collectable Unpaid Notes or Loans Promissory Notes Definition This is the amount of the deceased spouse's estate that is available to the surviving Medicaid spouse as a potential benefit. An extended form of an IOU from one party to another that enables a payee to receive payments (possibly with interest) over a set period of time.

A financial instrument that contains a written promise by one party to pay another party a definite sum of money either on demand or at a specified future date. Verification Source •A copy of the of the court filing, when required.

•Proof of the client’s augmented share must be provided when the probate is final.

A copy of the signed note and any attached agreement or amendments, and any legal documents. A copy of the signed note and any attached agreement or amendments, and any legal documents. When to Verify •At initial application or renewal applications.

•At the death of a spouse.

•At initial application.

•At renewal applications if changes have occurred.

•If the client reports a change that affects eligibility.

•At initial application. •At renewal applications if changes have occurred. •If the client reports a change that affects eligibility. Exemptions, Disregards and Comments • The death of a community spouse may affect the surviving client’s Medicaid eligibility.

• If refused, payments that are owed to the client will be reviewed for deprivation. • The Department will review promissory notes for deprivation of resources. Questions to Consider N/A •Are you collecting on any debt owed to you? •Are you collecting on any debt owed to you?