DPSS ePolicy

Types of Resources and Descriptions

Liquid Resources

Cash or other property which can be converted to cash within 20 calendar days. 

Example: Stocks, bonds, mutual fund shares, promissory notes, mortgages, life insurance policies, bank accounts (savings, checking, and time deposits). 

Non-Liquid Resources

Non-cash property which cannot be converted to cash within 20 calendar days.  

Example: Loan agreements, household goods, automobiles, boats, buildings, and land. 

Terms and Descriptions

Kelly Blue Book Value or Equity Value

The price of a resource after deducting the cost of impairment or depreciation from the original purchase cost.

Current Fair Market Value

The current price of a resource, if it will be put on sale in the market.

Deemor

Generally, the ineligible parent, spouse, or sponsor of the CAPI applicant/participant.

Household of Another (HOA)

An applicant/participant who lives with someone else (other than a spouse, parent, or a non-qualified alien minor child) and the participant receives both food and shelter from that person and does not contribute toward the household expenses or pays less than the pro rata share for food and shelter.  Also, they do not have ownership interest or rental liability.

Immediate Family

Applicant’s/participant’s spouse, minor and adult children, siblings, parents, and the spouses of those individuals.

Look-Back Date

The date 36 months before the date of filing the CAPI application or the date on which the resources were transferred, whichever is later.

Look-Back Period

The period beginning 36 months prior to the date of filing the CAPI application or the date on which the resources were transferred, whichever is later.

Note: The Look-Back Period cannot begin prior to December 14, 1999 (the date the law was signed). 

Personal Property

Movable property such as bank accounts, insurance policies, furniture and fixtures in the homes, stocks, cars, boats, collectibles, antiques, books, and pensions. 

Presumed Maximum Value

An amount charged when an individual is receiving in-kind support and maintenance but is not subject to the HOA living arrangement.  This maximum value is equal to one-third of the individual’s, or couple’s federal benefit rate, plus $20.00. 

Note: In-kind support and maintenance cannot be charged at a rate higher than the presumed maximum value regardless of the actual value of the food, shelter or clothing received.

Trust

A legal arrangement regulated by state law in which one party holds property for the benefit of another.  It can be:

• Revocable – Can be changed anytime; or
  
  
• Irrevocable – Cannot be changed after the agreement has been signed.

Trustee 

A person who holds legal title to the trust account or property. In most instances, the trustee has no legal right to revoke the trust or to use it for their own purpose.

Trustor

A person who creates the trust.

 Trust Earnings 

The amounts earned by the trust property in the form of dividends, interest, etc.

Uncompensated Value

The difference between the fair market value of a resource and the amount of compensation received by the individual or couple in exchange for the resource.

Verification Category and Acceptable Documents

Proof of Resources 

All current bank statements, property statements, vehicle registrations, life and/or burial insurance policies, and life estate agreements.