Medical Assistance for People Who Are Age 65 or Older or People Who Are Blind or Have a Disability Availability of Countable Assets

Assets are available if the owner has both the legal authority and actual ability to use them or to convert them to cash. An available asset must be counted in calculating the person’s countable assets, unless the asset is an excluded asset. Assets that are legally unavailable are not counted.

The value of the portion of an asset the person owns, in whole or in part, is presumed to be available, unless the person proves it is not. A person may prove all or part of an asset is unavailable by verifying a legal or actual barrier to obtaining or disposing of the asset that cannot be reasonably overcome. The person is not required to undertake litigation in order to accomplish the sale of, or gain access to, an asset if there is a documented legal barrier to the sale or use of property.

New verification of excluded or unavailable assets that have already been verified is not required unless the asset becomes available.

Other Asset Availability Rules

Non-liquid personal property, such as a non-excluded vehicle, is considered available even if it is for sale.

The terms of a premarital agreement are not considered when determining the available assets of a married couple.

Legal Citations

Minnesota Statutes, section 256B.056, subdivision 1a