Jewelry

Exempt

• Wedding or engagement rings. 
• Heirlooms.
• Any other item of jewelry valued at less than $100 NMV.
• All jewelry belonging to an institutionalized spouse and community spouse is exempt, regardless of its value, when determining the Community Spouse Resource Allowance (CSRA).

  • Note: This provision does not apply when an institutionalized person has no community spouse, or to individuals who are not institutionalized.

Nonexempt

Jewelry which has a NMV of over $100.

Determination of Value

Use the value as determined by one of the following:

• A written appraisal of current market value from:
  • A jeweler, or
  • An insurance adjuster, or
  • A personal property appraiser.
• Proof of purchase price in the form of a sales slip which shall establish the market value.

Subtract any encumbrances of record to determine the NMV.

Related Topics

Personal Property