when it comes to purchasing burial plots or planning for funeral expenses, you need to be careful not to jeopardize your eligibility for those benefits. The good news is, even if you receive Medicaid or anticipate applying for benefits, you are still allowed to own a burial space and have a burial reserve. Here is what you need to know.
Topics covered in this report include:
- What is a burial reserve?
- Prepaid funerals
- Burial reserve accounts
- What is an Irrevocable Funeral Trust?
- Funding an Irrevocable Funeral Trust
- The importance of preplanning