SI SF01220.330 Nevada Grandfathered Resource Provisions

See SI 01220.300

A. Dollar maximum

Aged

A single recipient may have a person property reserve (cash, negotiable instruments and the value of non-excluded assets) of $750.

A married aged recipient (the spouse may be eligible for Old Age Assistance (OAA) or ineligible) may have a personal property reserve of $1500.

An aged recipient, married to a spouse who is a recipient of AFDC/TANF, may have a property reserve of $1500 for himself or herself and his or her spouse, and an additional reserve of $150 for each child.

Blind

A single blind recipient, or one who is married (the spouse may be eligible for Aid to the Blind (AB) or ineligible), may have a personal property reserve of $1500.

A blind recipient, married to a spouse who is a recipient of AFDC/TANF, may have a personal property reserve of $1500, $500 for his or her spouse and first child, and $150 for each additional child.

Blind and Aged

A blind recipient married to an aged recipient may have a total personal property reserve of $2250; $1500 for the blind recipient and $750 for the aged recipient.

B. Home

There is no limit on the value of one property. The home is defined as the dwelling and all land contiguous to the dwelling.

C. Household goods

Excluded

D. Personal effects

Excluded

E. Automobile

The value of one automobile is excluded. The value of any additional automobiles or vehicles is counted under the applicable dollar maximum.

F. Life insurance

Under the Nevada State Plan, life insurance includes burial insurance policies.

Aged

Exclude if the face value is equal to or less than $750. If the face value is greater than $750, the cash surrender value is countable.

Blind

Blind: Exclude if the face value is equal to or less than $1500. If the face value is greater than $1500, the cash surrender value is countable.

G. Property necessary for self-support

There are no provisions in the Nevada State Plan for excluding property other than the home (and land contiguous to the home).

H. Burial plots and plans

For aged and blind recipients, a burial plot or plan is excluded if the value is $750 or less. If the burial plot or plan is valued at over $750, the excess over $750 is countable toward the dollar maximum.

I. Proceeds from the sale of the home

Under the Nevada State Plan, proceeds from the sale of a home intended for reinvestment in another home is excludable for one year from the date of sale of the home.


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http://policy.ssa.gov/poms.nsf/lnx/0501220330SF
SI SF01220.330 - Nevada Grandfathered Resource Provisions - 02/24/2015
Batch run: 02/24/2015
Rev:02/24/2015