When evaluating net worth, what is excluded from consideration?

Excluding the claimant's primary residence from net worth evaluation is consistent with various guidelines that focus on determining actual liquid assets available for immediate use rather than total assets that may be locked in or not readily accessible. The primary residence often represents a significant portion of an individual's overall wealth but isn't considered liquid or available for immediate financial needs. As such, it can distort the true picture of an individual’s financial situation when evaluating their net worth for purposes such as benefits eligibility or financial assistance.

In the context of these evaluations, it is crucial to focus on assets that can easily be converted to cash and demonstrate financial need. Consequently, personal assets like investments or cash are taken into account, as these reflect immediate financial standing. Mortgages are also relevant because they represent liabilities against owned properties that can impact net worth, but the value of the primary residence itself is excluded to provide a clearer assessment aligned with established financial assessment principles.