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| Funding A Funeral Trust
 A Solution to your Funeral expenses
There are a number of choices to resolve your concerns about pre-paying for your final expenses.
The following are ideas on how to fund a 'Funeral Trust' and why it is a better choice for investing the money that you will set aside for your final expenses than other investments.
Not everyone wants to use cash to fund their funeral trust, consider these great alternatives:
Redeem your US Savings Bonds:- Most people forget about their savings bonds and don't have an exit strategy once their savings bonds reach final maturity (when they stop earning interest). Others believe that their Savings Bonds can be used for their final expenses.
- However, before you can be admitted into an assisted living facility or Nursing home – expecting the state to pick up the costs for your care – you will be asked if you own any US Savings Bonds - since they are considered by Medicaid to be a 'countable asset'. You will have to cash-in your savings bonds and 'spend down' the proceeds BEFORE expenses for your care will paid for by the state. This could also involve unnecessary tax implications at a time when you least need more complications.
- So, while you are still in full control of your faculties, and before you become ill or incapacitated, why not convert some (or all) of your savings bonds into an 'Irrevocable Funeral Trust'.
- If you would like to learn the exact value of your US Savings Bonds, right now, visit www.savingsbonds.com/ftguru and obtain a complimentary Savings Bond Performance Report© that will show you the value of all the bonds you choose to enter into the service ...and a whole lot more.
Committing your final expense funds to a specific funeral home is not a wise decision:- The Funeral Home where you pre-paid for your final expenses might not still be in business - or if it is, the person(s) that you placed your trust and confidence in when you created your final arrangements plan might not be available to carry out your instructions - when you need their services
- The Funeral Home where you pre-paid for your final expenses might be sold or merged into a larger, less personal organization which you might not want handling your final arrangements - and they MIGHT NOT honor your request for a refund
- Your future plans might have you moving to a different city and/or state to retire - or to be near loved ones - thereby making your earlier arrangements obsolete
- With a 'Funeral Trust' you are not obligated to have your final arrangements handled by any one specific person or entity - your arrangements can be handled by any relative, other person, entity or funeral home at the time of your passing
Continuing to hold onto a fully paid-up life insurance policy is not a wise decision:- A fully paid-up policy, with a cash value of more than $1,500.00 is a countable asset and the total amount can be confiscated by Medicaid or a nursing home. Your existing insurance policy can be EXCHANGED - via a process know as a '1035 Exchange' – with no reduction or loss of any benefits or value already earned - into a new policy that will be placed into, and owned by, your 'Irrevocable Funeral Trust'. This will prevent your funds safe from confiscation by any entity (Nursing home, Doctors, Hospitals, etc). Your final expense monies are guaranteed to be there when you need them.
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