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Family Independence Program - Resource Limits and Exclusions - South Carolina

The resource limit for all liquid resources and real property, excluding the home and its contiguous property, is $2,500 for Family Independence Program (FIP) participants.

One licensed/registered automobile per licensed driver in the benefit group is excluded, not to exceed $10,000 fair market value. If a benefit group member owns a vehicle that is not licensed/registered, the equity value of this vehicle is counted against the $2,500 resource limit.

The following vehicles are also excluded:

· Vehicles owned by or used to transport a disabled person

· Vehicles essential to self-employment

· Income producing vehicles

· Vehicles used as a home

Other resource exclusions include:

· Basic items essential to daily living such as clothing and household furnishings

· One burial plot and the cost of funeral arrangements up to $1,500 per member of the assistance unit

· The cash value of life insurance

· Assistive technology for an individual with disabilities

The resources of a spouse or parent in the benefit group who is a recipient of SSI benefits are not counted as resources available to the FIP unit. The resources of a spouse or a parent who is receiving Federal and State foster care and adoption assistance payments are also not considered in the resource limit formula for the period for which such benefits or payments are received.

Also see:

Family Independence Program - Individual Development Accounts

Family Independence Program - Earned Income Exclusions and Disregards

Family Independence Program - Need and Payment Standards

Family Independence Program - Application Procedures

Family Independence Program - Overview

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