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Excluded Resources - Food Stamps

Some assets are not included when determining if a household meets the resource test. Some types of assets that are not included are:

·        the household's home and lot,

·        household and personal goods,

·        the cash value of life insurance,

·        earmarked assets (i.e., payments the household must use for a certain purpose or be subject to legal sanction if the funds are not used for the intended purpose),

·        Earned Income Tax Credit refunds, if within 12 months of receiving the refund,

·        funeral contracts,

·        pensions,

·        mortgages,

·        burial lots,

·        income-producing properties,

·        land contracts,

·        business loan-related assets,

·        assets used for self-support/employment,

·        real property and other assets which annually produce income consistent with their fair market value,

·        certain vehicles such as vehicles used at least 50% of the time to produce income, and

·        deeds of trust and other property agreements if they produce income consistent with their fair market value.

Assets are also excluded if their cash value is not accessible to the household. Some examples of inaccessible assets are:

·        property in probate,

·        security deposits,

·        real property for sale,

·        irrevocable trust funds, and

·        assets unlikely to produce a significant amount of funds if sold.

If your household resides in Vermont and includes a TANF recipient, read the topic "Asset Exclusion (Vermont) - Food Stamps " for information about excluding the assets resulting from earned income.

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