We consider funds held in a financial institution account (including savings, checking, and time deposits, also known as certificates of deposit) as the individual’s resources if he or she owns the account, and can use the funds for support and maintenance. Depending on how the account is set up, we determine whether the individual owns the account and can use the funds for support and maintenance.

If the individual is the sole owner, based on the account title and can withdraw funds, and use them for support and maintenance, we consider all of the funds as the individual’s resource regardless of the source. When these conditions apply, we presume that the individual owns 100 percent of the funds in the account. This presumption is not rebuttable.

If only one subsidy claimant or subsidy eligible individual is an account holder on a jointly held account, we presume that all of the funds in the account belong to that individual. If more than one subsidy claimant or subsidy eligible individual are account holders, we presume that the funds in the account belong to those individuals in equal shares. For information on joint checking and savings accounts, refer to SI 01140.205.

If the individual disagrees with the ownership presumption described in

HI 03030.015B.3., he or she has the opportunity to rebut the presumption. Rebuttal is a procedure, which permits an individual to furnish evidence and establish that some or all of the funds in a jointly held account do not belong to him or her. For information on joint checking and savings accounts, refer to SI 01140.205.