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In Wisconsin, individuals may have an Irrevocable Funeral Trust. This Trust may only be used to fund final expenses. It is protected from any and all outside interests, is accepted for Medical Assistance programs, and is not part of an Estate. It is immediately available to pay expenses upon death and cannot be tampered with by anyone. An Irrevocable Funeral Trust may be established when “spending down” to qualify for medical assistance benefits. It is not considered an asset. A Trust also earns interest to keep pace with rising costs.

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Advantages of pre-funding a funeral with an Irrevocable Funeral Trust

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What if you already have a life insurance policy?

An existing life insurance policy may be assigned to an Irrevocable Funeral Trust. This requires the policy to be assigned to the funeral home in advance of need. Most conventional life insurance is written for the purpose of paying a beneficiary. We find it is often in the clients’ best interest to have a separate fund established for the funeral trust.

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How do you start?

Contact Dave Barbola or Lisa Lee to set up a no cost, no hassle appointment today. Dave & Lisa are licensed Pre-Need professionals who would be happy to answer any questions you may have both now and in the future.