(1)
Definition. Bank balances may be in the form of
savings, checking, trust accounts, term certificates, or other types of
accounts held at banks, savings or loan institutions. Balances in a bank
account are considered available when a member of the filing unit has both
ownership of, and access to, the balance of funds in the account.
Any portion of the bank balance or amount held in cash from the
following sources is non-countable toward the asset limit:
(a) Highway Relocation assistance payments,
Urban Renewal Assistance payments, disaster relief payments used for
relocation, and payments from private agencies used for relocation;
(b) Any financial assistance paid to a
student such as a financial aid package, grant, loan or scholarship for the
purposes of obtaining a degree or certificate from an institution of higher
education;
(c) Any portion of a
Workers' Compensation, property damage, personal injury, Compensation to
Victims of Violent Crimes Act, death settlement or award, except for
compensation for lost wages, that is received as a reimbursement for specified
items and used to pay for such items;
(d) Earned income credits, whether received
as an advance payment or as part or all of an income tax refund;
(e) Any payment made under a Public Law that
prohibits the payment from being included as income or a resource in
determining eligibility for or the amount of benefits under any Federal or
federally assisted program;
(f) The
value of Transitional Cash Assistance for the remainder of the cyclical month
of issuance;
(g) Transitional Cash
Assistance benefits from a correction of an underpayment or fair hearing
decision, in the month of receipt and the following month;
(h) A loan verified by a written document,
signed by the borrower and the lender, that states the borrower's intent to
repay and the conditions of repayment, the terms of which specify the purpose
of the loan and which cannot be used to meet current living costs.
(2)
Joint
Accounts. If an account is a joint bank account, securities as
described in
106
CMR 704.120 (C) or a trust
fund as described in
106
CMR 704.120 (D) the entire
amount is a countable asset unless the member of the filing unit demonstrates
otherwise.
The member of the filing unit who states that he or she is not
the owner, or is only partial owner, of the funds must verify the ownership of
such funds. A member of the filing unit who states that he or she has no, or
only partial, access to the funds, must verify lack of access.
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. 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.
(3)
Verification of Access to and Ownership of Bank
Balances. Claimed lack of access and ownership must be verified.
If lack of access or ownership is verified, the funds will not be considered
available to the filing unit. If the verification submitted does not
demonstrate lack of access or ownership, the funds will be counted toward the
asset limit.
(a) A member of the filing unit
may claim lack of access to a joint account when verification has been
submitted that the co-holder has a history of physical or emotional abuse, or
has threatened to abuse a member of the filing unit. Verification shall be
court, law enforcement, medical, psychological, child protective service social
service records, or a established good cause for noncooperation with child
support. When the applicant or client cannot get the verification from one of
the above sources, sworn statements from the applicant or client and at least
one other individual with knowledge of the circumstances is acceptable. Such
statements may be made orally and recorded in the case record.
(b) Verification that the member of the
filing unit does not have ownership of, or has only partial ownership of, the
balance in the account must be shown by at least two of the following:
1. Documents showing the person who opened
the account, the person whose money was used to open the account, or the
co-owner of the account is not a member of the filing unit;
2. Documentation through federal or state tax
records, that the person who declares the tax on the interest received is not a
member of the filing unit;
3.
Records showing the person who makes deposits and withdrawals is not a member
of the filing unit;
4. A signed,
notarized statement from the member of the filing unit and from either one of
the other individuals listed on the joint account, or a person who opened or
contributed to the account, that the member of the filing unit had no knowledge
of the existence of the account; or
5. If only one of the above is available and
if the other individual (s) listed on the account or who had opened or
contributed to the account is unavailable or is unable or unwilling to provide
a statement, the second proof may be a signed statement from the member of the
filing unit stating under penalties of perjury of the ownership of funds in the
account.
(4)
Verification of Account Balances. Verification of the
current balance of each account is mandatory at application, at eligibility
reviews and when a change is reported. The amount is verified by bank books or
bank statements that show the balance within 45 days of the date of application
or redetermination.
Verification is not required at redetermination when the client
states the balance is $25 or less and the balance was $25 or less at the last
eligibility determination and the account balance, in combination with other
assets, is not over the asset limit. The statement shall be recorded in the
case record.
