16:58
nope cornell can be 2.
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Simple English definitions for legal terms
countable resource
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A quick definition of countable resource:
A countable resource is something you own that is included in a limit for receiving government aid. This means that if you have something valuable, like jewelry, you may need to sell it before you can get help. The rules for what counts as a resource can be complicated, and it depends on the program you are applying for. Some programs, like SSI, Medicare, and SNAP, look at your countable resources to decide if you are eligible for help.
A more thorough explanation:
A countable resource is any asset or personal property that is included in a cap for receiving welfare aid from the government. This means that if you own certain types of property, you may not be eligible for certain types of government assistance. The term "countable resource" usually refers to property that can be sold and turned into income.
Examples of countable resources include:
- Jewelry
- Stocks and bonds
- Real estate (other than your primary residence)
- Cash and bank accounts
Whether or not a particular item is considered a countable resource depends on the specific laws and regulations governing the government assistance program in question. For example, some family heirlooms may or may not be considered countable resources depending on their value and other factors.
Some government assistance programs that take countable resources into account when determining eligibility include:
- Supplemental Security Income (SSI)
- Medicare
- Supplemental Nutrition Assistance Program (SNAP)
For example, if you own a valuable piece of jewelry that is considered a countable resource, you may need to sell it in order to qualify for certain types of government assistance. This illustrates how countable resources can impact an individual's eligibility for government aid.