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West Virginia Income Maintenance Manual Chapter 5

West Virginia Income Maintenance Manual Page 87 Chapter 5 Assets

5.7.2.B.1 Transfer to a Trust When an AG member transfers assets to a trust that is excluded from consideration as an asset, no penalty is applied. 5.7.2.B.2 Transferred Assets Returned When all assets transferred for less than CMV have been returned to the client, no penalty is applied. However, if a penalty has already been applied or has already started, a retroactive adjustment back to the beginning of the penalty period is required. The client is not necessarily asset-eligible once the resources are returned. If parts of such assets are returned, the penalty period is adjusted accordingly. 5.7.2.B.3 Client Intended CMV or Other Value Consideration When the client can demonstrate that he intended to dispose of the asset for CMV or for other valuable consideration, no penalty is applied. 5.7.2.B.4 Transfer Was Not to Qualify for WV WORKS When the asset(s) was transferred exclusively for a purpose other than to qualify for WV WORKS, no penalty is applied. 5.7.2.C Transfers That Are Not Permissible All transfers not specifically permissible as stated above result in the application of a penalty. This also applies to jointly owned assets. The jointly owned asset, or the affected portion of it, is considered transferred by the client when any action is taken that reduces or eliminates the client's ownership or control of the resource.

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Page 813

Official source

West Virginia Income Maintenance Manual Chapter 5

West Virginia Income Maintenance Manual Page 87 Chapter 5 Assets

5.7.2.B.1 Transfer to a Trust When an AG member transfers assets to a trust that is excluded from consideration as an asset, no penalty is applied. 5.7.2.B.2 Transferred Assets Returned When all assets transferred for less than CMV have been returned to the client, no penalty is applied. However, if a penalty has already been applied or has already started, a retroactive adjustment back to the beginning of the penalty period is required. The client is not necessarily asset-eligible once the resources are returned. If parts of such assets are returned, the penalty period is adjusted accordingly. 5.7.2.B.3 Client Intended CMV or Other Value Consideration When the client can demonstrate that he intended to dispose of the asset for CMV or for other valuable consideration, no penalty is applied. 5.7.2.B.4 Transfer Was Not to Qualify for WV WORKS When the asset(s) was transferred exclusively for a purpose other than to qualify for WV WORKS, no penalty is applied. 5.7.2.C Transfers That Are Not Permissible All transfers not specifically permissible as stated above result in the application of a penalty. This also applies to jointly owned assets. The jointly owned asset, or the affected portion of it, is considered transferred by the client when any action is taken that reduces or eliminates the client's ownership or control of the resource.