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West Virginia Income Maintenance Manual Chapter 24

West Virginia Income Maintenance Manual Page 43 Chapter 24 Long Term Care

• Refusal to take legal action to obtain a court-ordered payment that is not being paid, such as child support or alimony. 24.8.2.A.5 Valuable Consideration Valuable consideration means that an individual receives in exchange for his or her right or interest in a resource some act, object, service, or other benefit which has a tangible and/or intrinsic value to the individual that is roughly equivalent to or greater than the value of the transferred resource. 24.8.2.A.6 Uncompensated Value The uncompensated value is the difference between the FMV at the time of transfer (less any outstanding loans, mortgages, or other encumbrances on the resource) and the amount received for the resource. 24.8.2.A.7 Look-Back Period The look-back period is the length of time for which the Worker looks back for any resource transfers. The look-back period is 60 months, whether or not a trust fund was involved. The look-back time period begins the month the client is both institutionalized and has applied for Medicaid. See Chapter 5 for further information about funds in revocable or irrevocable trusts. 24.8.2.B Permissible Transfers The following types of transfers do not result in a penalty for transferring resources. 24.8.2.B.1 Transfer of the Home When the client transfers his home as follows, no penalty is applied:

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Page 1968

Official source

West Virginia Income Maintenance Manual Chapter 24

West Virginia Income Maintenance Manual Page 43 Chapter 24 Long Term Care

• Refusal to take legal action to obtain a court-ordered payment that is not being paid, such as child support or alimony. 24.8.2.A.5 Valuable Consideration Valuable consideration means that an individual receives in exchange for his or her right or interest in a resource some act, object, service, or other benefit which has a tangible and/or intrinsic value to the individual that is roughly equivalent to or greater than the value of the transferred resource. 24.8.2.A.6 Uncompensated Value The uncompensated value is the difference between the FMV at the time of transfer (less any outstanding loans, mortgages, or other encumbrances on the resource) and the amount received for the resource. 24.8.2.A.7 Look-Back Period The look-back period is the length of time for which the Worker looks back for any resource transfers. The look-back period is 60 months, whether or not a trust fund was involved. The look-back time period begins the month the client is both institutionalized and has applied for Medicaid. See Chapter 5 for further information about funds in revocable or irrevocable trusts. 24.8.2.B Permissible Transfers The following types of transfers do not result in a penalty for transferring resources. 24.8.2.B.1 Transfer of the Home When the client transfers his home as follows, no penalty is applied: