Page 27

DEPARTMENT FOR AGING AND REHABILITATIVE SERVICES AUXILIARY GRANT PROGRAM NON-SSI RESOURCE ELIGIBILITY 11/18 CHAPTER E PAGE 16 Note: “Excludable equity” is either $6000 or the actual equity value if it is less than $6000. 9.1.1. Exception to the Exclusion Liquid resources are not considered property essential to self-support except when used as part of a trade or business. (This exclusion applies to non-business property.) Liquid resources are any resources in the form of cash or in any other form which can be converted to cash within 20 workdays. Workdays are any days other than Saturdays, Sundays, and Federal holidays. 9.1.1.1. Resources Assumed to be Liquid Cash is always liquid. Absent evidence to the contrary, assume that the following types of resources are liquid: • Stocks, bonds, and mutual fund shares; • Checking and savings accounts and time deposits; • United States Savings Bonds and Treasury bills, notes and bonds; • Mortgages and promissory notes and • Cash value of life insurance policies. 9.2. Current Use Criterion Property, including property used by an individual as an employee, must be in current use to be excluded as essential to self-support. Current use is evaluated on a monthly basis. Property not in current use can be excluded as essential to self- support only if: • It has been in use; • And there is a reasonable expectation that the use will resume. If property is not in current use, obtain the individual's signed statement as to: • The date of last use; • The reason(s) the property is not in use; and