Hawaii Administrative Rules › Title 17 - DEPARTMENT OF HUMAN SERVICES › Department of Human Services › Chapter 675 - ASSETS › Subchapter 5 - ASSETS TO BE CONSIDERED › Section 17-675-36 - Assets to be considered

Current through June, 2024
(a) Unless exempted
				  in subchapter
				  4, the
				  following assets shall be considered in the individual or family personal
				  reserve:
(1) Cash on hand;
(2) Cash in savings and checking
				  accounts;
(3) Stocks and bonds. The
				  individual shall obtain verification of the value of stocks and bonds from a
				  stock brokerage firm;
(4) Time
				  deposits and savings certificates. The individual shall obtain verification of
				  the value of assets from the financial institution where the funds are
				  deposited;
(5) State tax refunds,
				  including state excise tax credits and state income tax credits;
(6) Governmental debenture bonds, such as
				  savings bonds, treasury notes, or municipal bonds. The individual shall obtain
				  verification of the value of these assets from financial institutions or stock
				  brokerage firms;
(7) Mutual fund
				  shares. The individual shall obtain verification of the value of the mutual
				  fund shares from a stock brokerage firm;
(8) The equity in burial plots, funeral plans
				  or agreements, or burial vaults, not exempt in section
				  17-675-27.
				  Equity shall be determined by subtracting all encumbrances from the market
				  value. The individual shall provide verification of the equity value of burial
				  plots, funeral plans or agreements, or burial vaults;
(9) The nonexempt value of motor
				  vehicles;
(10) Any equity in real
				  property not used as the family home, not exempt in section
				  17-675-26
				  or
				  17-675-48;
(11) Moneys or assets in trust funds;
(A) For the financial assistance program
				  only, if an irrevocable trust is involved or there is a legal impediment to the
				  current availability of money or assets of the trust, the applicant, recipient,
				  or trust owner shall execute an agreement to allow the department of human
				  services to institute proceedings for disbursement of moneys from the trust.
				  The department of attorney general shall represent the department of human
				  services in the proceedings. The applicant, recipient, or trust owner's failure
				  to execute the agreement to obtain moneys or assets from the trust shall make
				  the applicant, recipient, or trust owner ineligible for financial
				  assistance.
(B) The provision in
				  subparagraph (A) does not apply to the food stamp program;
(12) Stocks or equity in any profit sharing
				  plan.
(A) The value of any profit sharing
				  plan shall not be counted as an asset as long as the individual continues to be
				  employed by the firm which controls the profit sharing plan. Any payments made
				  to the individual or family from the profit sharing plan shall be counted as
				  part of the personal reserve.
(B)
				  For the food stamp program, profit sharing plan shall be counted as a resource
				  if the cash value is accessible. The cash value of any profit sharing plan
				  shall not be counted as a resource if the cash value is inaccessible as
				  specified in section
				  17-676-30(a).
(C) For the food stamp program, if the
				  individual has terminated employment and receives the profit sharing funds as a
				  nonrecurring lump sum payment, then the payment shall be counted as resource as
				  specified in section
				  17-676-36(c).
(13) Money received by the
				  individual or family from the sale of assets shall be counted as part of the
				  personal reserve;
(14) Investments
				  in diamonds, gold, silver, or other precious metals;
(15) The equity value of any assets not
				  exempt under sections
				  17-675-26,
				  17-675-27,
				  17-675-28,
				  and
				  17-675-29.
				  The individual shall submit verification of the value of these
				  assets;
(16) Federal tax
				  refunds;
(17) Refunds of utility
				  and rental deposits not paid by the department.