Absent evidence to the contrary, we assume that the following types of resources are liquid:

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  stocks, bonds, and mutual fund shares;

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  checking and savings accounts and time deposits;

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  United States Savings Bonds and Treasury bills, notes and bonds; and

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  mortgages and promissory notes.

If there is no apparent evidence to the contrary of the assumptions in 1. above, we do not seek out any evidence to the contrary. There is no need to document a lack of evidence to the contrary.

We resolve any issue and document the file if:

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  liquidity is material to a particular resource; and

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  an individual's statement or information in file suggests that one of the above-listed types of resources is not liquid.

We do not reopen a prior determination that a particular resource is liquid unless resolution is material to:

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  the amount of a person's countable resources (as in C.1. below); or

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  continuing applicability of one of the factors listed in SI 01110.300A.2.a. or b.

1. a. 

   Situation - On January 6, 1989 Ms. Minnie Marbel filed for SSI benefits. Among her alleged resources was a $500 series EE U.S. Savings Bond which she had won a month earlier in a Christmas raffle at church. Since series EE bonds are never redeemable for 6 months following issue, the CR questioned whether the minimum retention period had expired.

2. b. 

   Analysis - The bond's issue date was December 1, 1988. Therefore, Ms. Marbel by law could not redeem it before June 1, 1989. Consequently, the bond not only was not a liquid resource, it was not a resource at all. The value of the bond, including any interest accrued,does not become a liquid resource until July 1, 1989.

1. a. 

   Situation - Ms. Harriet Dalton had a court-appointed guardian who had sole access to Ms. Dalton's savings account. On September 8, 1988 the guardian filed for SSI benefits on Ms. Dalton's behalf. On November 2,while the claim was still pending,the guardian died. Because of the delay in having a new guardian appointed and establishing a new account signatory, there was no one authorized to withdraw funds from the account for at least 60 days (and possibly longer).

2. b. 

   Analysis - For September through November the account was Ms. Dalton's liquid resource because her guardian had access to it as of the first moment of each month. Beginning in December and until the first of the month in which a new guardian had access to the account, it was a nonliquid resource.

The guardianship account continues to be a resource because, at all times, Ms. Dalton owned it and had the legal right to use it for her own support and maintenance. The delay in appointing a new guardian who could access it within 20 days does not remove Ms. Dalton's right to the funds.

In the case of the savings bond, neither Ms. Marbel nor anyone acting on her behalf had the right, authority or power to redeem the bond for cash until 6 months from the date of issue.