Section 704.125 - Inaccessible Assets(A)Requirements. An inaccessible asset is one that is not available to the individual and is not counted when determining eligibility for Transitional Cash Assistance. Inaccessible assets include, but are not limited to: (1) Property that is the subject of legal proceedings and irrevocable trust funds; and(2) Any funds in a trust, and the income produced by that trust, to the extent it is not available to the assistance unit, if all of the following conditions are met: (a) No assistance unit member has the power to revoke the trust or change the name of the beneficiary;(b) The trustee administering the trust is: 1. a court or an institution, corporation, or organization that is not owned or operated by any assistance unit member;2. an individual appointed by the court who has court imposed limitations placed on his or her use of the funds; or3. an individual whose responsibilities are governed by the terms of the irrevocable trust and who is not under the direction or control of any assistance unit members; and(c) Trust investments made on behalf of the trust do not directly involve or assist any business or corporation owned or operated by an assistance unit member. Except as provided in 106 CMR 704.120(B)(3)(a), all assets to which the applicant or client is legally entitled are considered accessible to the applicant or client:
(3) from the date of application or ownership, whichever is later, if the applicant or client does not meet the conditions provided in 106 CMR 704.125(A)(2); or(4) from the period beginning six months after the date of application or ownership, whichever is later, if the applicant or client is incapable of competently representing his or her own interests, has no guardian or conservator capable of representing his or her interests, and the representative of such applicant or client is making a good faith effort to secure the appointment of a competent guardian or conservator.(B)Verifications. Verification of the inaccessibility of an asset is mandatory at application, eligibility reviews or whenever circumstances regarding the accessibility of the asset have changed. The following documents may be used to verify inaccessibility: (1) The document establishing the inaccessibility of the asset;(2) Relevant legal or financial statements proving the inaccessibility of the asset, if the above document is not available;(3) Documents showing how the holder's name appears on a bank account or security.(a) If the account is titled A and B, neither individual has access to the account without the consent of the co-holder. The applicant or client must submit a written statement from the co-holder denying such consent. If the applicant or client is unable to obtain the written statement of the co-holder, he or she may submit an affidavit stating that he or she does not have the co-holder's consent.(b) If the account is titled A in trust for B, or A for B, A has full access to the account and B has no access to the account; and(4) A copy of the trust or other documentation that verifies it is irrevocable and meets all conditions provided in 106 CMR 704.125(A)(2). If an applicant or client shows lack of ownership, inaccessibility to the asset, or both, the asset is not countable in determining eligibility.
Adopted by Mass Register Issue 1360, eff. 3/9/2018.