Florida Regulations 65A-1.303: Assets
Current as of: 2024 | Check for updates
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(1) Specific policies concerning assets vary by program and are found in federal statutes and regulations and Florida Statutes.
(2) Any individual who has the legal ability to dispose of an interest in an asset owns the asset.
(3) Once the individual’s ownership interest of an asset(s) is established, the availability of that asset must be determined. Asset(s) determined not to be available are not considered in determining eligibility. Assets are considered available to an individual when the individual has unrestricted access to it. Accessibility depends on the legal structure of the account or property. An asset is countable, if the asset is available to a representative possessing the legal ability to make the asset available for another’s support or maintenance, even though the representative chooses not to do so. Assets not available due to legal restrictions are not considered in determining total available assets unless the legal restrictions were caused or requested by the individual or another acting at their request or on their behalf.
(4) Vehicles. The vehicle asset determination for cash assistance benefits will be completed in accordance with Florida Statutes § 414.075 Vehicles are excluded as assets in the eligibility determination for food assistance as provided in 7 CFR §273.8(f)(4).
Rulemaking Authority 409.919, 414.45 FS. Law Implemented 409.903, 409.904, 414.075 FS. History-New 4-9-92, Amended 9-19-94, Formerly 10C-1.303, Amended 8-22-05, 5-20-10.
Terms Used In Florida Regulations 65A-1.303
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
(3) Once the individual’s ownership interest of an asset(s) is established, the availability of that asset must be determined. Asset(s) determined not to be available are not considered in determining eligibility. Assets are considered available to an individual when the individual has unrestricted access to it. Accessibility depends on the legal structure of the account or property. An asset is countable, if the asset is available to a representative possessing the legal ability to make the asset available for another’s support or maintenance, even though the representative chooses not to do so. Assets not available due to legal restrictions are not considered in determining total available assets unless the legal restrictions were caused or requested by the individual or another acting at their request or on their behalf.
(4) Vehicles. The vehicle asset determination for cash assistance benefits will be completed in accordance with Florida Statutes § 414.075 Vehicles are excluded as assets in the eligibility determination for food assistance as provided in 7 CFR §273.8(f)(4).
Rulemaking Authority 409.919, 414.45 FS. Law Implemented 409.903, 409.904, 414.075 FS. History-New 4-9-92, Amended 9-19-94, Formerly 10C-1.303, Amended 8-22-05, 5-20-10.