PrePlan®: What are the advantages of a PrePlan--
pre-paying funeral expenses?
What is PrePlan®.
PrePlan®, established in 1988, is a funeral trust pre-funding program, backed by the New York State Funeral Directors Association, Inc. (NYSFDA*), that is the nationally-recognized leader in managing prepaid funeral and burial accounts. It currently administers over 80,000 of these consumer trust accounts for almost 600 funeral homes in New York State that offer its services to consumers. This trust fund program is professionally managed by a first-rate team of funeral directors and knowledgeable staff, with the advice and counsel of some of the best investment advisors in the country.
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, clergy or your attorney. You can also 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 following:
They offer a wide array of services and provide professional, compassionate, and caring service.
Funeral Directors Jennifer Greenberg, Gregory Zannitto and Peter DeLuca and are also 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.”
Preferred service for our clients:
As a special accommodation, Jennifer, Gregory and Peter 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 Jennifer Greenberg, Gregory Zannitto or Peter DeLuca at 212-674-8055 or
“I always advise my friends and clients...be informed and then you can
make a sound decision." - Brian A. Raphan
NEW YORKERS FOR
OVER 25 YEARS"
If you have any questions about how a PrePlan fits into your Estate Planning or Medicaid Planning needs,
feel free to email me at
or call me at212-268-8200.