PRE-FUNDING
More and more families are electing
to pre-fund their pre-arranged funerals. Although this is not mandatory, it
can offer many advantages. One can arrange the specific kind of service,
merchandise and cemetery location one desires at today’s prices, and be
assured of adequate funds for the future payment. This can reduce almost all
future financial requirements for family members. It also serves as a source
for peace of mind as well as a thoughtful act of consideration.
We pre-fund our clients funerals
through Choices™ The New Jersey Pre-Paid Funeral Trust Fund. A funding
vehicle that is immediately available upon the death of the intended funeral
recipient. Unlike traditional savings vehicles which may close or become
inaccessible at the time of death, this account becomes payable.
The Trust Fund is managed in
cooperation with on of New Jersey's largest banking institutions. The
funds are fully insured to the extent permitted by law by the Federal deposit
Insurance Corporation (FDIC) and, at all times, are totally refundable to the
purchaser, with interest and without penalty. ( One of our funeral
directors will discuss the way in which these basic terms and conditions may
be affected and modified by a pre-paid arrangement intended to qualify for SSI/Medicaid
or General Admittance exclusion.)
How Does It Work?
At the time of prearrangement you
will select the specific items of funeral merchandise and service that you
desire. Your funeral director will determine today's prices for your
selection and provide you with a fully itemized statement. Your funeral
director will then provide you with the trust fund agreement in the amount of
those charges. If you are prepaying your funeral for SSI/Medicaid
eligibility, your funeral director will make the necessary arrangements to
ensure the agreement will be accepted. Your prepayment check is made
payable to the New Jersey Prepaid Funeral Trust Fund™. The funeral
director will forward a copy of your contract, together with your check, to the
offices of the trustees at the New Jersey State Funeral Directors Association.
What about SSI/Medicaid And
General Assistance?
If you or someone in your family
may soon apply for assistance under one of these programs, contact us.
Federal and State law provide that properly trusted assets intended for the
payment of funeral expenses will not be considered as a resource when
eligibility is determined. This permits recipients to preserve assets
that would normally be exhausted, and in so doing ensure their funeral will be
provided for.
