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EAEDC - Assets Test for Eligibility- Massachusetts

Assets are objects of value to the household. In order for the assistance unit to be eligible for EAEDC, the combined assets of the filing unit cannot exceed $250 for an assistance unit of one or $500 for an assistance unit of 2 or more. Certain assets are counted, and certain assets are not counted, in the assets test.

Assets that are counted include, but are not limited to:

· Currency

· Checks

· Bank accounts

· Retirement funds

· Stocks, bonds, and other securities

· Cash surrender value of life insurance policies

· Equity value of one vehicle in excess of $1,500 and full equity value of any other vehicles

· Real estate (other than the home in which the family lives)

Certain assets that are not counted include, but are not limited to:

· The home in which the family lives

· Household and personal belongings

· The first $1,500 of equity value of a vehicle

· Assets that are not accessible to the family

· Certain educational grants

· Assets of any member of the household who is an Supplemental Security Income (SSI) recipient

Assets may not be transferred in order to meet the qualification standards, and households can be disqualified for this practice.

Source

106 CMR 321.100-140, available in PDF format at:
http://www.mass.gov/Eeohhs2/docs/dta/g_reg_321.pdf
(You must have Adobe Acrobat Reader to view the regulations.)

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Page Last Updated: 02/01/2012 06:00:00

EAEDC - Assets Test for Eligibility- Massachusetts

Assets that are counted include, but are not limited to:

Certain assets that are not counted include, but are not limited to:

See also:

Source