23 Miss. Code. R. 103-1.25 - Unknown Assets

A. An individual may be unaware of his ownership of an asset. If this is the case, the asset is not a resource for the period during which the individual is unaware of his ownership.

B. Once the asset is discovered by the individual, the value, including any monies accumulated on it through the month of discovery, must be treated as follows:

1. Month of discovery. The value of the unknown asset, including any monies (such as interest) that have accumulated on it through the month of discovery, is evaluated under regular income-counting rules.

2. Months after month of discovery. For months after the month of discovery, the previously unknown asset is a resource and subject to usual resource counting rules.

Notes

23 Miss. Code. R. 103-1.25

Social Security Act §1902 (r)(2); 42 CFR §435.601(b) (Rev 1994).