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Wisconsin Medicare Insurance

Ways to Fund a Funeral Trust

Funerals often cost $8,000 to $10,000 or more depending on the services, cemetery property, grave marker and other choices made. Funeral Trusts can be funded in two ways: single premium and level payment plans.

Single Premium Funeral Trust Plan

A single premium plan can be used to set aside funds for your final expenses. This plan will protect those funds from Medicaid, bills from a nursing home and other health care providers as well as other creditors. Pre-need Trusts accrue interest to help with the inflation of funeral costs, so you can feel confident that the money will be there when needed. The application process is quick and easy. In addition, Trusts can be pre-planned for family members, guaranteeing that future funeral expenses are covered.

Funding Options

Many people have money that has been set aside and forgotten. Savings Bonds and Certificates of Deposits that have matured that are earning little or no interest are a good way to fund your Trust. The penalty-free 10% withdrawal from an annuity is another way to fund your Trust with wealth not currently needed. This assures that your final bills will be paid in a timely way as Probate can freeze or wipe out available assets.

Payment Plans Available

For those who don’t have a lump-sum amount available for pre-funding, a level-payment plan can be chosen. With this plan, you pay a small premium each month. This enables you to budget your final expenses over time with the full protection of an irrevocable trust.

Funding for Others

Irrevocable funeral trusts can also be established for children and their spouses. If, for example, you have a spouse and three children, all of whom are married. You have the option to set up 8 Immediate Funeral Trusts, one for each family member and their spouse. If your state allows a maximum of $15,000, this would move $120,000 into trusts that are guaranteed to be available for funeral costs. What's more, the plan is portable; those funds can be used at any funeral home in any state, with any excess going back to their respective estates.

Funding a funeral trust is one of the best decisions you can make to give you and your loved ones peace of mind and the ability to access funds quickly for final expenses. Call Future Financial Resource Group to get started with your funeral trust.

Medicare Supplement Insurance Plan Disclosures

Neither Future Financial Resource Group nor the Medicare Supplement insurance policies it sells are connected with or endorsed by the U.S. government or the federal Medicare program.

Plans may be available to persons eligible for Medicare by reason of disability. All plans may not be available in your state/area. Call to receive complete information including benefits, costs, eligibility, requirements, exclusions and limitations.

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