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Inaccessible Property
Exempt the cash value of personal property which is inaccessible to the AU. This includes, but is not limited to:
- Irrevocable trust funds. Refer to IRREVOCABLE/INACCESSABLE TRUST FUNDS.
- Security deposits on rental property or utilities.
- Property in probate.
- Property unlikely to produce significant funds or return if sold. (This exemption does not apply to financial instruments such as stocks, bonds, or legally binding promissory notes.) Refer to Property Unlikely to Produce Significant Funds or Returns below.
- A vehicle (whether LICENSED or UNLICENSED) which has an equity value of $1500 or less. Refer to Equity Value.
- A vehicle which meets the following conditions:
- The vehicle is owned jointly with a person who does not live in the home, AND
- The AU does not have possession or use of the vehicle, AND
- The AU does not have the ability to sell the vehicle without the agreement of the joint owner who refuses to comply.
- A licensed vehicle which the AU is LEGALLY prohibited from selling due to court actions such as:
- Probate,
- Lawsuit,
- Divorce proceedings, or
- Bankruptcy proceedings.
Verification
The following verification is required for inaccessible property:
- Cash value
- Inaccessibility of the property.
Property Unlikely to Produce Significant Funds or Returns
Exempt property, which if sold or otherwise disposed of, would be unlikely to produce “any significant amount of funds” or “significant return” for the support of the AU except for financial instruments (stocks, bonds, legally binding promissory notes, etc.).
“Any significant amount of funds” is over $1500.
“Significant return” is any return (based on the Au's ownership interest in the property) which is over $1500 after subtracting the estimated cost of the sale or disposition.
Related Topics
Availability and Inaccessibility