What are the advantages of a PrePlan — pre-paying funeral expenses?
There are many advantages. Both financial and practical. On the financial side, New York State allows an individual applying for Medicaid or Supplemental Security Income (SSI) to set aside funds in an irrevocable account for their funeral and burial expenses. These funds are considered an excludable asset, meaning they are not counted as a resource when determining eligibility. A Medicaid/SSI applicant also has the option of setting funds aside to pay the funeral/burial expenses of certain family members. Any account established for the benefit of a family member must, under New York State law, also be irrevocable, as any and all funds in such account would be an excludable asset as well.
On the practical side, a PrePlan makes it easier on your family members or loved ones. With everything planned and prepaid there is less stress and burden on others and better decisions can be made at a much less emotional time. Eliminating financial and logistic decisions also allows for less anxiety at a time when fond memories, sharing and grieving are important.
How to Choose a funeral home: Get recommendations from family, friends and neighbors, or even contact the New York State Funeral Directors Association at 1-866-644-PLAN for a list of member funeral homes in your community. For my clients and readers in the NYC area I recommend the GREENWICH VILLAGE FUNERAL HOME and the BETH ABRAHAM MEMORIAL CHAPEL both at 199 Bleecker Street. They offer a wide array of services and provide professional, caring, and compassionate service. Funeral Directors Peter DeLuca and Jennifer Greenberg are very knowledgeable about Pre-Planning. If you mention my name, they’ll offer you a free, no pressure consultation. I highly recommend doing that. I always advise my friends and clients…“be informed and then you can make a sound decision.” As a special accommodation, they will also provide a guaranteed price for my clients. All funeral home service charges, livery and merchandise items will be price guaranteed to the time of death per the terms of the New York PrePlan contract. This can possibly save you thousands of dollars as well. Call Peter DeLuca or Jennifer Greenberg at 212-674-8055 or 212-614-2300. Links:
The Law Offices of Brian A. Raphan, P.C. 7 Penn Plaza, 7th Ave/31st, New York, NY 10001 http://www.RaphanLaw.com