415.21 Penalty for Transferring Assets - Financial Assistance (AAM)

415.21 Penalty for Transferring Assets - Financial Assistance (AAM)

SR 96-02 Dated 01/96 Previous Policy

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If it is determined that a financial assistance applicant or recipient transferred countable assets for less than fair market value for purposes of qualifying for assistance, the entire assistance group is ineligible for financial assistance for 36 months from the date of the transfer.

Exception: Deny financial assistance for 60 months from date of transfer of assets to an irrevocable trust when the principal is not available to an individual .