Rule 23-104-7.45 - InheritancesA. This type of income is defined as follows: 1. An inheritance is cash, a right or a noncash item(s) received as the result of someone's death. An inheritance is a death benefit.B. This type of income is treated as follows:1. Until an item or right has a value (i.e., can be used to meet the heir's need for food or shelter), it is neither income nor a resource.2. The inheritance is income in the first month it has a value and can be used.3. An inheritance is not income to a person if the inheritance is something that was considered that person's resource (either as a member of an eligible couple or through deeming of resources) immediately before the death.a) The proceeds of a life insurance policy were not a resource before the death.23 Miss. Code. R. 104-7.45
Social Security Act §1902 (r)(2); 42 CFR §435.601(b) (Rev 1994).