Why Pre-fund a Funeral?
Pre-funding involves setting aside money to cover the costs of a funeral in the future.
Many people often choose to both pre-plan and pre-fund their funeral when meeting with a funeral home.
There are a number of benefits to pre-funding a funeral:
- Place the cost of the funeral (at today’s prices) in an investment vehicle that will earn interest to keep pace with inflation to cover the cost of the funeral (at future prices) when the death occurs.
- Prevent life insurance policies from being depleted at the time of death.
- Consider options at your own pace to make sound, fiscally-responsible decisions.
- Spare your loved ones the unexpected cost of a funeral during a highly emotional time.
- Medicaid/SSI recipients may set aside money to fund the funeral service of their choice as a part of the “spend-down” process to meet eligibility limits.
Where does my money go?
Our firm uses PrePlan Funeral Trust to Hold your money until the time comes. For 35 years, PrePlan Funeral Trust has served as New York’s preeminent pre-funded funeral trust administrator. Plus,
they are backed by NYSFDA, one of the nation’s oldest and highly regarded associations.
With PrePlan, families’ preneed funds are 100% government backed, and audited quarterly to ensure compliance. Their knowledgeable staff is well-versed in NYS preneed law and Medicaid/SSI compliance issues.