The Legislature recognizes that certain property and rights owned by a recipient, including a recipient of aid to families with dependent children, are of negligible value in enabling the recipient to meet his or her present needs, and should not be classified as available resources of the recipient. It is the purpose of this

section to designate such property and rights. Resources available to a recipient, including a recipient of aid to families with dependent children shall not include all of the following: (

a) Money or securities placed in an irrevocable trust for funeral, cremation, or interment expenses with any of the trustees mentioned in

Section of the Business and Professions Code or

Section of the Health and Safety Code. (

b) Money or securities placed in an irrevocable trust created by a deposit in an insured savings institution made by one person of his or her own money in his or her own name as trustee for a funeral director to provide payment for funeral services rendered by the funeral director upon the depositor’s death. (

c) Life or burial insurance purchased specifically for funeral, cremation, or interment expense, which is placed in an irrevocable trust or which has no loan or surrender value available to the recipient. (

d) Securities issued by a licensed cemetery authority which by their terms are convertible only into payment for funeral, cremation, or interment expenses. (

e) Other funeral agreements to the extent consistent with federal law. For the purposes of evaluating the personal property of a recipient, interment plots as defined in

Section of the Health and Safety Code shall be deemed to have no value.