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27 Ιουν 2024 · Is irrevocable burial trusts the best way to secure your funeral plans and protect your family from unexpected costs? By following the steps we’ve outlined, you can make an informed decision that fits your needs.
Purchasing an irrevocable funeral trust allows applicants to set aside funds for funeral and burial costs they or their family will have to pay for eventually. And by doing so, they reduce their countable assets, which may help them qualify for Medicaid.
17 Νοε 2023 · An Irrevocable Funeral Trust (IFT) stands as a dedicated financial arrangement established during an individual’s lifetime to cover anticipated funeral and burial expenses.
5 Μαρ 2024 · Irrevocable Funeral Trusts. Also known as an Irrevocable Burial Trust, an Irrevocable Funeral Trust ensures funds are exclusively used for funeral and burial costs. Once a grantor establishes an Irrevocable Funeral Trust, funds cannot be accessed and conditions cannot be changed.
An irrevocable funeral trust is one way to pay for your funeral, but it isn't without cons. Here is both sides of the argument in using these tools.
Because an irrevocable funeral trust "owns" the life insurance policy, funeral trusts offer numerous benefits including tax savings, protection from inflation and favorable treatment by Medicaid* eligibility rules.
From pre-need funeral insurance, Medicaid compliant Single Premium Immediate Annuities (“SPIA”) or the Irrevocable Funeral Trust, we’ll help protect your legacy on your terms. Contact us today to start planning.
