Must an applicant spend his or her resources down to $2,000?
An applicant can have no more than $2,000 of “countable” resources in their name. An asset is not “countable” if it is “exempt” or “unavailable.” There are many assets, your home being the most important, that are exempt. An “unavailable” asset is one that is not exempt, but for one reason or another, cannot be liquidated or readily accessed at the time of the application. An example might be a time-share that would be difficult to sell. If married, the at-home spouse will be able to keep at least an additional $120,900 (2017) above and beyond any exempt or unavailable property as a Community Spouse Resource Allowance (“CSRA”). In many cases the CSRA can be raised further, sometimes substantially further. We can advise you whether or not you would qualify and explain how this is done.