Wisconsin Funeral Trusts Protect Your Assets
The average cost of a funeral today is $8,000 to $12,000.
A funeral trust is something that can be set up for anyone up to age 99.
You can be in a nursing home and still be able to establish a Funeral Expense Trust.
As soon as it is established, the funds are protected without penalty; they are no longer a "countable" asset for Medicaid spend–down and are protected from creditors.
The foremost reason to establish a funeral trust is that it protects your family.
No one wants to leave this debt to their spouse or children.
Without this asset protection, many families are left in debt.
What will be paid by an irrevocable Funeral Expense Trust?
The expenses that qualify for payment include:
- Funeral, Memorial and Graveside Services
- Clergy Honorarium
- Death Certificate
- Obituary Notice(s)
- Casket or Alternative Container
- Outer Burial Container
- Temporary Marker
- Transportation and Driver
- Cemetery/Burial Plot
- Cemetery Charges
- Other Funeral Home Facilities or Staff Services
The funeral home is automatically the first to be paid from the Trust, any remaining funds that are not used for funeral costs are paid to the estate of the insured.
Remember, an Irrevocable Trust cannot be changed after the 45 free look period. Once the policy is assigned to the IFT, the assets are no longer in your control.
If the Trust were not IRREVOCABLE it would be subject to attachment by creditors, nursing homes and Medicaid, and therefore not available for payment of your final expenses.
The funds are assigned to a Trustee who can only make distributions for payments of the insured's final expenses and return of any excess funds.
We can provide you with the assistance you might need to establish a plan.
Contact FFRG today at 800-354-3548.
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.
This is a solicitation of insurance. An agent my contact you.