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West Virginia Income Maintenance Manual Chapter 24

West Virginia Income Maintenance Manual Page iv Chapter 24 Long Term Care

24.8.2.B.3 Transfer to a Trust ......................................................................................45 24.8.2.B.4 Transferred Resources Returned ...............................................................49 24.8.2.B.5 Client Intended Fair Market Return or Other Valuable Consideration .........50 24.8.2.B.6 Transfer Was Not to Qualify for Medicaid ...................................................51 24.8.2.B.7 Denial Would Result in Undue Hardship .....................................................51 24.8.2.B.8 Transfer of Resources Previously Disregarded by LTCIP Asset Disregard .53 24.8.2.B.9 Transfer on Death Deed .............................................................................54 24.8.2.C Transfers That Are Not Permissible ..................................................................54 24.8.2.D Transfers Related to a Life Estate ....................................................................55 24.8.2.D.1 Transfer of Property with Retention of a Life Estate....................................55 24.8.2.D.2 Transfer of a Life Estate .............................................................................55 24.8.2.D.3 Purchase of a Life Estate ...........................................................................56 24.8.2.E Transfer to Purchase an Annuity ......................................................................56 24.8.2.E.1 Annuity-Related Transfers ..........................................................................57 24.8.2.E.2 Actuarial Soundness ...................................................................................58 24.8.2.E.3 Annuity-Related Transactions Other Than Purchases ................................59 24.8.2.F Transfer to Pay for Personal Care Services ......................................................60 24.8.2.F.1 Non-permissible Transfer of Resources to Pay for Personal Care Services 60 24.8.2.F.2 Permissible Transfer of Resources to Pay for Personal Care Services .......61 24.8.2.G Purchase of a Promissory Note, Loan, or Mortgage .........................................63 24.8.2.H Treatment of Transfer of a Stream of Income or Right to a Stream of Income ..64 24.8.2.I Treatment of Jointly-Owned Resources ............................................................64 24.8.2.J Transfer Penalty ...............................................................................................65 24.8.2.J.1 Start of the Penalty......................................................................................65 24.8.2.J.2 Length of Penalty ........................................................................................67 24.8.2.J.3 Who Is Affected by the Penalty ...................................................................68 24.8.3 HOMESTEAD PROPERTY EXCLUSION ................................................................70 24.8.4 HOME EQUITY .......................................................................................................71 24.8.5 Long Term Care Insurance Partnership (LTCIP) ASSET DISREGARD ...................71