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<br />formal separation or divorce settlement agreement established through arbitration, <br />mediation, or court order. <br />Foreclosure or Bankruptcy <br />Assets are not considered disposed of for less than fair market value when the disposition is the <br />result of a foreclosure or bankruptcy sale. <br />Family Declaration <br /> SAHA Policy <br />Families must sign a declaration form at initial certification and each annual <br />recertification identifying all assets that have been disposed of for less than fair market <br />value or declaring that no assets have been disposed of for less than fair market value. <br />SAHA may verify the value of the assets disposed of if other information available to <br />SAHA does not appear to agree with the information reported by the family. <br />Types of Assets <br />Checking and Savings Accounts <br />For regular checking accounts and savings accounts, cash value has the same meaning as market <br />value. If a checking account does not bear interest, the anticipated income from the account is <br />zero. <br />SAHA Policy <br /> <br />In determining the value of a checking account, SAHA will use the average monthly <br />balance for the last six months. <br />In determining the value of a savings account, the SAHA will use the current balance. <br />In determining the anticipated income from an interest-bearing checking or savings <br />account, SAHA will multiply the value of the account by the current rate of interest paid <br />on the account. <br />Checking and savings accounts will be counted in the total assets calculated if the total <br />assets are $5000 or greater. SAHA will use actual or imputed interest whichever is <br />greater. <br /> <br />Investment Accounts Such as Stocks, Bonds, Saving Certificates, and Money Market Funds <br />Interest or dividends earned by investment accounts are counted as actual income from assets <br />even when the earnings are reinvested. The cash value of such an asset is determined by <br />deducting from the market value any broker fees, penalties for early withdrawal, or other costs of <br />converting the asset to cash. <br />SAHA Policy <br /> <br />In determining the market value of an investment account, SAHA will use the value of <br />the account on the most recent investment report. <br />How anticipated income from an investment account will be calculated depends on <br />whether the rate of return is known. For assets that are held in an investment account with <br />Page 6-15 <br />04/01/14 <br /> <br />