Section 468-2-008 - RESOURCESResources may include real and personal property. The total equity value of available, non-exempt resources of the Aid to Dependent Children unit is determined and compared with the established maximum for available resources which the Aid to Dependent Children unit may own and still be considered eligible. If the total equity value of available, nonexempt resources exceeds the established maximum, the unit is ineligible for a grant. Equity value equals the fair market value, the price at which it could be sold, minus all encumbrances. Examples of encumbrances include mortgages, liens, taxes, and estimated selling expenses.
008.01RESOURCE LIMIT. The resource limit is $4,000 for a single individual and $6,000 for two or more individuals. In order for a resource to be countable it must be considered available and not excluded. The equity value of the countable resource is used.008.01(A)VERIFICATION OF RESOURCES. When the total amount of countable resources indicated by the unit is $1500 or more, verification must be provided.008.02AVAILABILITY OF A RESOURCE. A resource is considered available when an individual owns or has access to the resource.008.03UNAVAILABILITY OF A RESOURCE. Regardless of the terms of ownership, if the resource is unavailable to the individual in the Aid to Dependent Children unit, the value of that resource is not used in determining eligibility. An applicant or recipient must file in county court for the maximum elective share of a deceased spouse's augmented estate as specified in Neb. Rev. Stat. sections 30-2313 and 30-2314.008.04EXCLUDED RESOURCES. The following are excluded resources:(A) Real property which the unit owns and occupies as a home;(B) Goods used in the home;(D) One motor vehicle if it is used for employment or medical transportation;(E) Certain trusts, including guardianships, set up for one or more of the children in the Aid to Dependent Children unit;(F) The cash value of life insurance policies;(G) Certain life estates in real property;(H) Irrevocable burial trusts up to $3,000 per individual and the interest if irrevocable;(I) Proceeds of an insurance policy that is irrevocably assigned for the purpose of burial of an individual in the Aid to Dependent Children unit;(K) Funds set aside by the Veterans Administration under the Veterans Education and Employment Assistance Act for the Future education expenses of a veteran;(L) Payments from the Indian Claims Commission;(M) Income received annually, semi-annually, or quarterly which is prorated on a monthly basis and included in Aid to Dependent Children eligibility determination. This is excluded over the period of time it is considered income;(N) Stocks, inventories, and supplies used in self-employment;(O) United States savings bonds are excluded for the initial six-month mandatory retention period;(P) An unavailable job-related retirement account that is held by the employer;(Q) The unspent portion of any Retirement, Survivors Disability Insurance or Supplemental Security Income retroactive payments are excluded for six months following the month of receipt;(R) An Individual Development Account set up for postsecondary education, purchase of an individual's first home, or establishment of a business; and008.05RESOURCES OF AN INELIGIBLE OR SANCTIONED INDIVIDUAL. The resources of all unit members, sanctioned or undocumented alien parents, and sanctioned 16 or 17-year-olds, are used in determining eligibility. The ineligible or sanctioned individual is allowed Aid to Dependent Children resource exclusions. After resource exclusions, the remaining resource amount is counted in the resource total for the eligible unit members.008.06DETERMINATION OF OWNERSHIP OF RESOURCES. A resource which appears on record in the name of an individual must be considered belonging to that individual. 008.06(A)JOINTLY OWNED RESOURCES. When an individual in the unit has a jointly owned resource that is considered available, the following will apply: 008.06(A)(i)RESOURCES OWNED WITH OTHER INDIVIDUALS RECEIVING CATEGORICAL ASSISTANCE. If an individual in the unit owns a resource with another individual who is receiving categorical assistance, the value of the resource is divided by the number of owners, regardless of the terms of ownership. The appropriate value is counted for each unit.008.06(A)(ii)RESOURCES OWNED WITH OTHER INDIVIDUALS NOT RECEIVING CATEGORICAL ASSISTANCE. If an individual in the unit owns a resource with an individual who is not receiving categorical assistance, the appropriate value is determined in accordance with the following regulations: 008.06(A)(ii)(1)JOINT TENANCY. As a general rule, the words "and/or" or "or" appearing on a title or other legal contract denote joint tenancy. This means that either owner could sign and turn the resource to cash without the other; therefore, the total resource is considered available to either owner.008.06(A)(ii)(2)TENANCY IN COMMON. The term "and" generally refers to tenancy in common in which each owner holds an undivided interest in the resource without rights of survivorship to the other owner(s). Only the proportionate share based on the number of owners of the resource is available to each owner.008.07CONSIDERATION OF FINANCIAL RESPONSIBILITY. When an individual has financial responsibility for an individual in another assistance unit and the responsible individual owns the resource(s), the value of the resource(s) is divided by the number of assistance units to determine the amount to be counted in each. An Assistance to the Aged, Blind, or Disabled or State Disability Program couple is considered one unit.008.08TYPES OF RESOURCES. Resources can be divided into two categories: liquid and non-liquid.008.08(A)LIQUID RESOURCES. Liquid resources are assets that are in cash or financial instruments which are convertible to cash.008.08(B)NON-LIQUID RESOURCES. Non-liquid resources are tangible properties which need to be sold if they are to be used for the maintenance of an individual.468 Neb. Admin. Code, ch. 2, § 008
Amended effective 1/9/2017.Amended effective 8/29/2022