Cash, bank accounts and other assets

Liquid asset means something that can be quickly and easily turned into cash.  For example, a savings account is a liquid asset because you can easily get money from it.  A house is not a liquid asset because you have to sell it in order to get money from it.

If someone owns an asset with another person, select the checkbox next to one of their names, not both of them.

If someone in the household has any cash that they are carrying with them or saving at home, select the checkbox next to their name.

If someone in the household has a savings account at a bank, credit union, or other financial institution, select the checkbox next to their name.

If someone in the household has any other kind of liquid asset select the checkbox next to their name.  A liquid asset is anything that can be quickly and easily turned into cash.  Examples of liquid assets are stocks, bonds, U.S. Savings Bonds, certificates of deposit (CDs), Individual Retirement Accounts (IRAs) or Keogh Plans, money market accounts, escrow accounts, money that someone owes to you, annuities and trust funds (other than burial trusts).

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