Transfer of Assets

This full-day program covers the basic Transfer policy: the look-back period, what constitutes a transfer, allowable transfers, Undue Hardship provisions, and resources vs. stream of income, determination of the Uncompensated Value (UV), calculation of the penalty period, and the implementation and impact of transfer penalty.  Also included are the new rules and regulations enacted in 2006 from the Federal Deficit Reduction Act of 2005, including Promissory Notes and Life Estates.

As a result of the training, participants will be able to:

  • Explain the procedures related to transfers of assets for applicants/recipients
  • Distinguish between the treatment of an annuity with transactions before and after DRA legislation as they relate to transfer policies
  • Explain the effects of Life Estate on transfer