Irrevocable Funeral Expense Trust

Irrevocable Funeral Expense Trust

Provide Your Clients Peace of Mind in Final Expense Planning

Everyone will need a funeral. Purchasing an Irrevocable Funeral Expense Trust is a great way to preserve funds for those final expenses while eliminating excess countable assets for Medicaid or VA. This product gives your client:

Accelerated Eligibility for Benefits
Funds Protected for Final Expenses
Flexibility in Choosing a Funeral

The Irrevocable Funeral Expense Trust consists of a small whole life insurance policy that is irrevocably assigned to a funeral trust controlled by the insurance company. Upon the death of the insured, the funds are available to pay for funeral and burial services. For Medicaid and VA purposes, so long as the face value of the policy is below the state-specific limitation (typically $15,000), the funds are exempt.

 

We can also provide an itemized list of goods and services, which outlines the items your client wants for their funeral. When planning for Medicaid, some states may require this list to accompany an Irrevocable Funeral Expense Trust.

An Irrevocable Funeral Expense Trust may be right for your client if they…
Are seeking Medicaid or VA benefits.
Have excess countable assets.
Have not conducted any final expense planning.