Page 27

SNAP SNAP SNAP SNAP SNAP SNAP SNAP SNAP SNAP SNAP SNAP SNAP SNAP SNAP SNAP SNAP Evaluate socks and/or bonds which can be sold or redeemed at current market value, less encumbrances. The value of all stocks/bonds are countable as a resource except stocks/bonds which cannot be sold or redeemed. 560 TRANSFERRING RESOURCES 560.1 Penalties for Transferring Resources Households are ineligible for SNAP benefits if, within three months before application or any time after certification, they transfer a countable resource for less than its fair market value to qualify for assistance. This penalty applies only if the total of the transferred resource added to other resources would have affected eligibility. Eligibility for SNAP will not be affected by: ● Resources transferred between members of the same household. ● Separated spouses and one spouse transfers property (the other spouse’s eligibility is not affected). ● Resources sold or traded at or near fair market value. ● Resources transferred for a reason other than to qualify for SNAP, such as a parent placing funds in an inaccessible trust fund for a child’s education, or as a result of a divorce settlement or other court order. 560.2 How To Determine Intent How recent was the transfer of property? How did the applicant support himself after transferring the resource? If the applicant was self-supporting or was supported by the person who received the property, then the applicant's intent was to have support rather than qualify for benefits. How did the applicant transfer the property? If the applicant loaned the property but cannot recover its value after making a reasonable effort, they are eligible. Special or unpredictable hardships that prevent payment for the transferred resource do not affect eligibility. Supervisory approval must be obtained in these situations. 560.3 Length of the SNAP Household’s Disqualification Period Base the length of the SNAP household’s disqualification on the amount by which the transferred countable resource exceeds the resource maximum of $3,000 ($4,500 for elderly/disabled households) when added to other countable resources. Amount in Excess of Resource Limit Period of Denial $.01 to $249.99..................................................................................................................... 1 month $250 to $999.99.................................................................................................................... 3 months $1,000 to $2,999.99.............................................................................................................. 6 months $3,000 to $4,999.99.............................................................................................................. 9 months $5,000 and more................................................................................................................... 12 months Division of Welfare and Supportive Services Eligibility and Payments Manual RESOURCES MTL 06/24 Nov 24 STOCKS/BONDS A-552