164. Despite sections 141 and 147, the following liquid assets and property values are excluded, up to a total amount of $203,000:(1) liquid assets consisting of the principal or sums referred to in section 141;
(2) the property listed in section 147;
(3) any other immovable property;
(4) the portion of the property value and liquid assets received by the independent adult or a member of the family from a succession that exceeds the debts and charges for which the independent adult or member of the family is liable; and
(5) the proceeds from a life insurance policy received by an independent adult or a member of the family following the death of a person as well as a death benefit, if the proceeds or benefit are paid in a lump sum.
The exclusions in subparagraphs 4 and 5 of the first paragraph apply if the property or liquid assets are received during a month in which the independent adult or the family is a recipient under a last resort financial assistance program, otherwise than pursuant to section 49 of the Act, or is eligible to receive the special benefit for dental and pharmaceutical services pursuant to section 48 of this Regulation. Despite the foregoing, if the benefit paid for that month is later claimed in its entirety by the Minister, the exclusions apply, unless the claim is made following a false declaration, up to the date on which a formal repayment notice was sent by the Minister pursuant to section 97 of the Act.
In addition, the exclusion in subparagraph 4 of the first paragraph continues to apply the first time the property is converted into liquid assets or the liquid assets are converted into property, and the exclusion in subparagraph 5 of the first paragraph continues to apply the first time the proceeds or benefit are converted into property.
O.C. 1073-2006, s. 164; O.C. 456-2008, s. 12; O.C. 330-2015, s. 19.