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2. Power of attorney – Funds managed by an agent under a power of attorney are not property of the agent and cannot be counted as resources of the agent. 3. Representative payee – A person, agency, or institution selected by a court or the SSA to receive and manage benefits on behalf of another person. A representative payee has responsibilities to use these payments only for the benefit of that person, to notify the payer of any event that will affect the amount of benefits the person receives or circumstances that would affect the performance of the representative payee’s responsibilities, and account periodically for the benefits received. Funds managed by a representative payee are not property of the representative payee and cannot be counted as resources of the representative payee. 4. Trust – A property interest that usually takes the form of fund comprised of a variety of liquid and non-liquid resources, including but not limited to, cash, stocks, bonds, personal effects, life insurance, business interests, and real estate – that is held by a person or entity (called a “trustee”) who is legally responsible for ensuring the property owned by trust is used to benefit another person (the “trust beneficiary). The person who transfers the resources to the trust is known as the “grantor.” In some instances, the grantor is also named as a trust beneficiary or “grantee.” The treatment of a trust for Medicaid eligibility purposes depends on its type, whether the property it holds is accessible, and who is the grantor, grantee and/or trustee. In general, the treatment of trusts is determined in accordance with Part 50-00-6 of this Title. 3.7 Factors Considered in the Treatment of Resources 3.7.1 Scope and Purpose A. There are several common features in the process for evaluating resources when using the SSI methodology that apply across IHCC groups, whether using a full or simplified review. The purpose of this Section is to set forth these features and identify any exceptions where appropriate. 3.7.2 Process Rules A. The following process Rules apply generally in the evaluation of resources across IHCC groups. 1. First of the Month Rule – Countable resources are determined as of the first (1st) of the month. This determination is based on the resources the person owns, their value, and whether or not they are excluded as of the first (1st) of the month.