Senior Citizens now don't have to go to the funeral home to fund a funeral Trust
United States of America (Press Release) February 28, 2008 --
Setting up a Funeral Trust Final Expense plan can now be done by attorneys, financial planners and insurance agents. Many seniors don't welcome the day they have to go down to the funeral home to pick out the caskets, vaults, grave stone, etc.
Now with the funeral trust being offered by the attorney, financial planner or insurance agent, the senior doesn't have to go to the funeral home. In the comfort of their homes, they can sign an irrevocable funeral trust that is funded with a single payment life policy.
With recent Medicaid changes with the Deficit Reduction Act it is much more difficult to shelter assets from the nursing home. In most states, if the senior establishes a funeral trust, these funds are sheltered from hospitals, nursing homes, lawyers, and Medicaid.
Attorney Karl Dovnik who specializes in Elder Law explained that these trusts are completely exempt in most states if the client goes into the nursing home. Therefore, preserving funds for the funeral.
The Trust then pays the funeral home at the time of death of the insured. The flexibility with this type of trust is much better than pre-paying a funeral home. One doesn't know where they will be living at the time of death. They might move to Florida, closer to their children in another state or the funeral home could change ownership.
This trust is truly flexible and portable to any funeral home that the family chooses for their love ones. When it comes to estate planning the funeral trust is a must according to Elder Law Attorney Karl Dovnik.
To get more information go to www.funeraltrusts.com
Now with the funeral trust being offered by the attorney, financial planner or insurance agent, the senior doesn't have to go to the funeral home. In the comfort of their homes, they can sign an irrevocable funeral trust that is funded with a single payment life policy.
With recent Medicaid changes with the Deficit Reduction Act it is much more difficult to shelter assets from the nursing home. In most states, if the senior establishes a funeral trust, these funds are sheltered from hospitals, nursing homes, lawyers, and Medicaid.
Attorney Karl Dovnik who specializes in Elder Law explained that these trusts are completely exempt in most states if the client goes into the nursing home. Therefore, preserving funds for the funeral.
The Trust then pays the funeral home at the time of death of the insured. The flexibility with this type of trust is much better than pre-paying a funeral home. One doesn't know where they will be living at the time of death. They might move to Florida, closer to their children in another state or the funeral home could change ownership.
This trust is truly flexible and portable to any funeral home that the family chooses for their love ones. When it comes to estate planning the funeral trust is a must according to Elder Law Attorney Karl Dovnik.
To get more information go to www.funeraltrusts.com
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