Assets
What is wealth?
Assets are everything you already own when you submit your application. This includes all assets with a value at the time of application that can be liquidated.
This includes: household goods, motor vehicles of all kinds, land, houses, jewelry, cash, life insurance policies, building society savings agreements, etc.
What does not count as assets?
Motor vehicles with a value of up to €15,000 are not considered assets in the SGB II calculation if you, as the owner, are capable of working.
The following are also not taken into account: reasonable household goods, retirement provisions if they meet certain requirements, and assigned and pledged financial investments.
You may also own assets up to a certain value.
If you are applying for citizen's income for the first time, you will be in a so-called waiting period for 1 year. During this time, you as an individual may have assets worth €40,000. If several people live in your benefit community, the other persons may each have assets worth
€15,000 each.
After the waiting period has expired, each person in the community of need may possess assets worth €15,000, regardless of their age.
Your assets will therefore be checked when you submit your application and again after the waiting period has expired.
Was this article helpful to you?
Further articles
New application/submission of application
Information about submitting an application (for the first time).
Renewal application
Information about the renewal application.
Calculation explained simply
Information on the composition and calculation of the service.
Income
Information on what income is and how it is calculated.
Reasonable costs
Information on the topic of reasonable costs