Protection From Nursing Home Costs
Typically, an individual’s assets will go toward paying assisted living or nursing home expenses until their life’s savings are depleted. That is when state and federal Medical Assistance programs begin to pay for a person’s care. We can show you how to preserve some of your assets through a properly structured prepaid burial or funeral plan. These plans are payable to any funeral home of your choosing at the time of your death.
Pre-planning Your Final Wishes
A funeral can be expensive, especially if emotions are running high and the family wants “only the best” for their loved one. By taking a little time now to write down your preferred service options and selections, you will help your family make wise financial decisions.
In 15 years, the cost of a funeral is likely to have increased by about 60-65%. You can help offset the costs of your final expenses with a specialized prepaid funeral contract that covers some or all of your family’s anticipated out-of-pocket expenses.
So does your family. Your loved ones will have peace of mind when they hear that it’s been all taken care of ahead of time, and so will you. The families we serve tell us that there is nothing like the feeling of having all your plans in place. It is like a burden you didn’t even know was there is suddenly lifted from your shoulders.
Who would not jump at the opportunity to do something so caring for loved ones? You have the chance to create a professionally prepared plan that will protect your family from emotional stress and financial burden. If you wish to set aside funds for funeral expenses, we can go over all your options and let you decide what is best for you and your family.
Typically, an individual’s assets will go toward paying assisted living or nursing home expenses until their life’s savings are depleted. That is when state and federal Medical Assistance programs begin to pay for a person’s care.
MEDICAL ASSISTANCE SPEND DOWN & BURIAL SPACE ITEMS
How to preserve assets with prepaid burial plans
OPTION 1:
Prepaid burial contracts – Properly structured irrevocable prepaid burial contracts can be set aside for each spouse as exempt assets for Medical Assistance eligibility.
Prepaid burial contracts may include:
- Services
- Merchandise
- Third party costs (flowers, cemetery costs, obituary, church, luncheon, etc.
OPTION 2:
A qualifying individual’s assets can also be set aside for burial space items (BSI) contracts for immediate family members and their spouses, which helps preserve as many assets as possible for the family.
Burial space items may include:
- Cemetery plots/cremation niches
- Crypts
- Caskets
- Vaults
- Headstones
- Urns
- Opening and closing of the grave
Now Is The Time To Plan And Protect Your Assets… Before It’s Too Late
Our knowledgeable funeral pre-arrangement specialists can help you create a prepaid burial or cremation plan specifically for the purpose of Medical Assistance spend down. Let us know how we can serve you.