PLANNING MAY
INCLUDE PRE-NEED
FUNDING

Information
Only

Biographical information, used for the death certificate and obituaries, is placed on file without any pre-need funding of preferred arrangements.

Funding is not mandatory but a death certificate must be filed in the county of death in the state of death. Obituaries are prepared and issued to newspapers at the request of the family.

BURIAL
INSURANCE

Burial insurance is "whole life" insurance and the most expensive of insurance products. It also generates the most growth the most quickly. 

This product is available up to age 100 and will often cost less than the full amount of goods and services selected.

Interest made by the policy rolls back into the policy and does not have to be reported for income tax.

Any funds not used at-need are returned to a named beneficiary . When ownership is transferred to the trust department at the insurance company, the policy is NOT viewed as an asset for consideration if the insured must later apply for Medicaid. Best cost rate will be a "single premium" policy. A policy up to $8560.00 (6/1/2005) may be written.

Master Funeral
Funding Pool

To generate the maximum return on trusted funds, all monies are placed into a state-regulated funeral funding pool, managed by a licensed fund manager, with funds escrowed by NBD Bank. Per state regulation, the fund manager takes care of all recording and reporting requirements.

To "inflation protect" or guarantee today's price for the future, you pay in full today's price for the arrangements you choose. All escrowed monies earn interest, which keeps pace with inflation. Any amount may be put into a trust at anytime but if a person eventually needs to apply for Medicaid, a funeral trust is treated like any other asset. Interest makes the account grow, but is claimable for income tax purposes. Funds in excess of actual funeral costs at-need are returned to the deceased's estate or family at this point in time.

SHELTERING
FUNERAL FUNDS
WHEN APPLYING
FOR MEDICAID

YOU HAVE 3 OPTIONS IN TRUSTING FUNDS. YOUR HOME AND AUTO ARE NOT COUNTED AS PART OF YOUR ASSETS.

You may have up to $2000.00 in personal assets (cash, checking or savings) and may place up to $2000.00 into a non-cancelable funeral trust account.

Total allowed has no cap at this time. We suggest you limit total to no more than $10,560. Funds may be trusted for the following:

• Casket

• Burial Vault

• Cemetery Grave Space 

• Grave Opening/Closing Fee

• Headstone/Grave Marker
  

BURIAL
INSURANCE

Burial insurance, a whole-life product,. is limited for use in paying for funeral expenses.
The total amount you may purchase at this time is $8560.00 and is available to persons up to 100 years of age.
When ownership of the policy is transferred to the Trust Department of the insurance company, the policy is NOT counted as an asset against the applicant.