Liquid assets are generally made up of cash, insurance cash values (where face value of policy greater than $10,000), annuities, etc.

Accounts that suffer a penalty for early withdrawal are counted minus any penalties.

Funds (such as trusts) subject to restrictions are counted pursuit to those restrictions.  For instance, a trust that allows for generous invasion of the principal would likely counted in whole.  Equally true and trust that bars use until a set time would be excluded until the time point was reached.

Bank accounts are countable assets but income deposited that month is not counted.  Example, $600 Social Security deposited in bank account each would be deducted before calculating amount of countable assets.

Jointly held accounts will be counted entirely against the recipient.  The recipient can rebut this determination by showing true ownership of the funds.  For instance, the recipient and her sister both have their names on a bank account.  Recipient will have the opportunity to demonstrate that her name is on the account only to assist her sister.  Recipient would need, in this case, to show how much of the funds belong to her sister.

Irrevocable burial accounts are generally excluded.