Pre-Planning Pre-Payment Options
Thinking about the inevitability of one's death is a subject that few like to consider. For many, actually moving ahead with the pre-planning or pre-paying for their funeral is even more difficult to act on.
When one begins to understand the financial and emotional pressure that a funeral can thrust on our loved ones, it becomes clear that planning in advance is a considerate and responsible thing to do.
Similar to the protection that life insurance provides for loved ones; planning a funeral in advance can protect loved ones from much more than just financial concerns. You have always been there to protect them throughout your life, why not after your death?
With the large number of options and considerations available to individuals today, it is important to speak with someone you can trust.
We can guide you through the many options and considerations to help you determine the arrangements that best suite your needs. We will help you find a balance between the emotional, spiritual and financial needs of your surviving loved ones after you have gone.
WHEN IS THE BEST TIME TO PRE-PLAN YOUR FUNERAL?
The best time to begin making your pre-arrangements is now, while you're thinking about it. While some people in their 40's and 50's may think it's too early to pre-plan, people who do say that pre-arranging their funerals is smart financial planning and gives them added peace of mind knowing they are not leaving this burden to family members. By taking the time now to collect cost information and calmly making choices related to your own funeral arrangements, you'll be protecting your family against the stress of having to make these decisions at a time of extreme emotional stress. This way you can carefully choose specific items you want and need, and pay for them now. Use our Plan and Price a Funeral link which will provide you the the prices of your selections to give you a running estimate of the funeral you choose. Pre-paid Investments through funeral homes allows families to fund their funerals in advance through different investment vehicles. We use the New Jersey Prepaid Funeral Trust Fund because it meets all federal and state consumer protection laws. To view a PDF brochure of the funds performance click here.In addition we have included as part of our web site our Merchandise Page to illustrate the options available for your personal choices. We have also included a Personal Information page so you can submit all the particular information that would be needed as part of your arrangements.
There are a growing number of options available to the public today when seeking to pre-plan and pre-pay their final wishes. We can tailor a plan that's right for you. From single pay plans to automatic monthly bank withdrawals designed to meet anyone's budget concerns, our staff would be pleased to outline the choices available.
Pre-paying can protect you and your family from future inflationary trends while providing the piece of mind of knowing that they will be cared for after you are gone. Below you will find more detailed explanations of the plans that we have available. If you would like to request an appointment after you have reviewed this information, we would be pleased to have one of our funeral directors go over any additional questions you might have.
Pre-Payment for Medicaid Spend down
If you need to apply for SSI/Medicaid in New Jersey, you are permitted to set aside money to pay for your funeral. (Note: you cannot set aside funds to pay for a flowers, transportation, lodging or a repast.) Arranging and prepaying your funeral will not affect your eligibility for assistance. In most cases, it makes good financial sense to preplan and prepay.
Prepaying a funeral before SSI or Medicaid acceptance allows you to select the funeral of your choice before your assets are used up for medical care. To learn more about eligibility requirements, limitations and guidelines on SSI/Medicaid call us at the funeral home.We will be able to provide you with up-to-date information on prearranging funerals. CHOICES programs meet all SSI, Medicaid rules and regulations. Payments made for the funeral will be kept in an irrevocable account.
Recovery of Excess Proceeds by the State
New Jersey has enacted laws that enable the state to recover the excess proceeds for prepaid funerals in order to recoup a small portion of the money it spends each year on the SSI/Medicaid program.
Once all funeral expenses of an SSI/Medicaid recipient have been paid, any funds remaining in an irrevocable trust fund opened on or after February 27, 2000 or in a newly issued insurance policy purchased and irrevocably assigned on or after February 27, 2000 must be sent to the state. Irrevocable trust funds opened or insurance policies purchased for the payment of funeral expenses prior to February 27 are not affected by these rules.
Applicants for SSI/Medicaid should make arrangements that are reasonable and consistent with their lifestyle.
Choosing a brochure below will take you to the New Jersey State Funeral Directors web site with an explanation of each plan.
WELFARE FUNERAL FUNDING ALLOWANCES:
In accordance with Work First New Jersey Manual regulations the Department of Human Services (DHS) agrees to allow families, friends and other interested parties of deceased welfare recipients to supplement, by up to $1,570, the states's maximum combined welfare funeral payment of $2,770 (maximum of $2,246 toward funeral expenses, maximum of $524 in cemetery/crematory charges).
A deceased welfare recipient's assets cannot be used to supplement the funeral.
Funeral services may not be scheduled until qualified by the Department of Social Services.
Not included in these packages are the charges for certain cash disbursements such as: actual clergy/church/hall charges or the cost of the obituary/death notice of the final disposition of cremated remains, such as cemetery charges including the cost of scattering charges or any item not specifically listed.
If you select goods and/or services not on a specific welfare package price list, the charges for such goods and/or services as shown on our current General Price List will apply, the cost of which could cause the funeral to be found ineligible for the state's welfare funeral payment.
No credit will be given for unused services/merchandise.
Not all cemeteries accept county payment of $524. Because cemetery policies vary, there are limited options for internment services.
SIX COMMON REASONS FOR PRE-ARRANGING FUNERALS:
Today, more individuals and families are making the decision to pre-arrange their funerals than ever before. Because of the factors such as inflation, and fewer extended family members living close by, planning your own funeral may be the right choice for you. In a recent survey, these were the most common reasons people gave for pre-arranging their own funerals:
Lets your wishes be known.
Reduces stress for friends and family at an already emotional time.
Offers peace of mind.
Allows you to pay for the funeral of your choice before assets are used up for medical care and before assets are reduced to SSI or Medicaid eligibility levels.
Relieves your loved ones of the financial responsibility.