Page 29 - Vander Plaat Caggiano

Are there different types of pre-need arrangements?
As opposed to at-need arrangements when the the death has already occurred there are several reasons why families choose to make pre-need arrangements Often when a a a a a a a a a a loved one is is in in a a a a a a a a a a terminal state and a a a a a a a a a a a a family is is referred to hospice care pre-need arrangements are are made Though the the the reality of the the the impending loss is very difficult to to to adjust to to to the the the the funeral director will gently guide the the the family family in in in planning the the the the funeral A family family in in in this situation will have the the the option to to place the the the funds into a a a a a a a a trust trust account account at at this time There are two types types of trust trust accounts irrevocable and revocable revocable Both types types of trust accounts can be transferred from one funeral home to another Pre-need trust accounts in a a a a a a a a majority of cases are irrevocable This is is is as a a a a a a a result of an an individual requiring long term care and is is is at the point of applying for Medicaid coverage An irrevocable trust account can only be be used for the the the funeral of of the the the beneficiary of of the the the the trust trust account account The trust trust account account can be be transferred to another funeral home but can never be be revoked A certified
death certificate of the the the beneficiary is the the the only way the the the funds can be be obtained A prudent individual not needing Medicaid can also establish a a a a a a a a a a a pre- need need arrangement and place the the funds into a a a a a a a a a a a a revocable trust account for themselves or or another family member Legal Issues
Wills probate joint property estate estate taxes selecting estate estate trustees/attorneys for property and and personal care and and other issues may appear somewhat intimidating at at at at at first Fortunately with a a a a a a a a a a a a a little guidance and preparation dealing with such matters does not have to be so overwhelming Administration of a a Will A Will is is an instrument by which a a a a a person (the “testator”) makes a a a a a a disposition of his/her property to to be performed or or or or take effect after his his or or her her death A well-drafted Will may provide for the the welfare of the the the testator’s testator’s family distribute the the testator’s testator’s assets in accordance with Page - - VANDER PLAAT-CAGGIANO FUNERAL HOME VANDER PLAAT-CAGGIANO FUNERAL HOME - - Page 29