Funeral Information

Pre-Arrangements > Pre-Payment

Generally, trusts and life insurance provide ways to fund your choices. Each provides a different set of advantages and options.

Trusts can be revocable or irrevocable. In most cases, they are revocable, meaning that funds can be withdrawn at any time. At the time of death, however, these funds can be paid directly to the funeral home upon presentation of the death certificate. The process assures your funeral expenses are taken care of.

Trusts are often used to protect an individual's assets and solve some estate consequences. For those in nursing homes, for example, this method helps assure that funds will be available long after all other finances are depleted and help preserve Medicaid or SSI eligibility. Taxes on earnings can be the responsibility of the funeral home and not the individual.

With life insurance, coverage often begins the day you apply for a policy, and you may not be required to hold your policy for a specified period of time before you receive full benefits. This funding helps assure you're financially cared for no matter when death occurs. Flexible payment plans may also be available. Earnings from life insurance are not taxed like trusts are.

In most cases, the use of services indicated at the time of prefinancing means no additional costs should be incurred at the time of death.