TN 14 (02-98)
Assets are a financial resource which may be liquidated to repay an overpayment. Assets
resulting from pending inheritance proceedings are considered part of a person’s assets
if the person anticipates receipt within 6 months of requesting waiver.
Do not include the value of household furnishings, wearing apparel, burial plot or
prepaid burial contract, family automobile or family home.
Do not include a vehicle needed for the support of a handicapped family member. In
order for a vehicle to meet this exclusion, it must provide support that the family
vehicle cannot provide. It must have been purchased for and be used for the transportation
of the handicapped person.
Do not include any asset which is generating income needed to meet ordinary and necessary
IRA’s and Keough Plan funds are not assets when the fund is income producing (i.e.,
the person is receiving income from it). Otherwise, they should be considered an asset.
If the person is the beneficiary of a trust fund, ascertain if he/she has access to
the funds. Consider the trust fund as an asset unless the funds are not available
to the person (e.g., the person cannot use the principal until he/she attains age
25 or the trust fund is comprised solely of the proceeds of VA funds). If the availability
would preclude waiver, refer the matter to the Regional Attorney with a full explanation
of the facts to determine if the trust fund is liquid.
If the person has joint ownership of real property, do not include the value of his/her
share of the asset if the other parties will not agree to liquidate the asset.