Transfer of Assets

STEP 1:

Does institutionalized spouse have assets including jointly held assets that exceed resource maximum for a single person?

• • If NO, no transfer needed.
  • If YES, go to Step 2.

STEP 2:

The institutionalized spouse must sign an IM-79, Intent to Transfer Assets Agreement, before a Vendor/HCB application can be approved. This document states that the institutionalized spouse agrees to transfer assets to the community spouse once he/she has been determined eligible for MHABD Vendor or HCB benefits.

Note: Do not approve Vendor or HCB benefits until you have received a signed IM-79.

STEP 3:

Upon receiving the signed IM-79, update the ‘IM-79 Status’ field on the DIVISION screen to show ‘Y’, yes agrees to transfer.

STEP 4:

At approval, send the institutionalized spouse an IM-79A, Notification of Requirement to Transfer Assets. Allow 90 days for the transfer of assets to be completed. Set a reminder in FAMIS to verify that the institutionalized spouse’s resources are b