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West Virginia Income Maintenance Manual Chapter 5

West Virginia Income Maintenance Manual Page 8 Chapter 5 Assets

RETIREMENT FUNDS Funds in an individual account, pension fund, or retirement plan, (i.e., Individual Retirement Account, Keogh Plan, 401(k), Simplified Employee Pension plan, and employer plans). REVOCABLE Capable of being revoked, retracted or annulled. SPOUSES Persons legally married to each other, under the provisions of West Virginia State law, or those moving to West Virginia from states that recognize their relationship as a legal marriage. There is no provision in West Virginia State law regarding common-law marriage. Any individual that establishes this type of relationship in a state that recognizes common-law marriages is considered married for DOHS purposes. The states and cities that recognize common-law marriages are: Alabama Colorado District of Columbia Iowa Kansas Montana Oklahoma Rhode Island South Carolina Texas Utah

Common law marriages are recognized in the following states if established by the date shown. Ohio October 1, 1991 Idaho January 1, 1996 Georgia January 1, 1997 Pennsylvania January 1, 2005 Effective October 8, 2014, same-sex marriage is a legal marriage in the state of West Virginia. Same-sex couples legally married after this date are defined as legal spouses for the West Virginia DOHS program purposes. Same-sex couples who move to West Virginia and are legally married under the laws of jurisdiction in which the marriage was celebrated, are recognized as spouses. This includes a civil union, or domestic partnership, only if recognized as legal marriage under the state law where such union was entered into. STOCKS A security representing a share of ownership in a business or corporation. TERM INSURANCE Insurance policies that do not have a cash surrender value. See LIFE INSURANCE, CASH SURRENDER OR CASH-IN VALUE, FACE VALUE, and WHOLE LIFE INSURANCE. TIME DEPOSIT Any type of account that has a maturity date.