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Aged, Blind and Disabled Manual Policy Manual Number: 110.050 Section: Financial Eligibility Requirements Chapter: ABD Countable and Excluded Resources

September 1, 2026 Division of TennCare 51 broker. Accept written verification of ownership from the mutual fund company or by viewing the shares themselves.

2. Mutual fund shares owned for other purposes

Mutual fund shares held for purposes other than personal use are subject to different treatment. Mutual funds shares may be owned for the following purposes:

• Burial; • Business or Self-Employment; • Educational Income; • Proceeds from the Sale of a Home; • Prorated as Income; or • Settlement or Disaster payment, if excluded by policy.

Trusts Resource Type A trust is any arrangement in which a grantor transfers real or personal property with the intention that it be held, managed or administered by a trustee(s) for the benefit of the grantor or other beneficiary(ies). A trust and the income generated by a trust will be counted or excluded based on the nature of the trust, the date the trust was created, the source of funds used to create the trust, and other factors.

See the ABD Trusts policy.

Uniform Gifts to Minors Act (UGMA) Assets or Property Resource Characteristic Excluded for individuals who have not reached the age of majority (as established by the state law controlling such gift). Counted for individuals who have reached the age of majority (as established by the state law controlling such gift).

Uniform Transfers to Minors Act (UTMA) Assets or Property Resource Characteristic Excluded for individuals who have not reach the age of majority (as established by the state law controlling such transfer). Counted for individuals who have reached the age of majority (as established by the state law controlling such transfer).

Tenn. Code Ann. § 35-7-102