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Most people, understandably, don’t like to think about their own final expenses. Many choose to simply prepay them with a funeral home and be done with it. The decision to remove an expensive burden from their loved ones is a thoughtful one. But, it’s also fraught with potential dangers that don’t surface until it’s too late.
Traditional prepaid funerals aren’t guaranteed. Funeral homes may go under, the funds may be exposed to creditors, and so on. Even if you believe your estate can handle the expenses later, it may have to go through a lengthy probate process. The result is a stressful situation for your family during an emotional time.
Fortunately, there’s a solution that puts concerns about affording burial costs to bed: the "Medicaid Exempt Funeral Trust." This is a combination of a small, guaranteed-issue life insurance policy that is irrevocably assigned to a free trust. It transfers all risk to the insurance company, which then pays the funeral provider on your behalf. The trust even speeds up Medicaid eligibility by spending down your countable assets.
Not only are we the largest distributor of this funeral trust in the nation, but we’ve been actively involved in its continual improvement. We’ve made it easy to secure by anyone in just a few quick steps.
Elder Life Advisors know exactly how much you should put aside so you don’t under-prepare or over-spend. Call us today to see how a prepaid funeral trust can benefit your retirement plan now and your family later.
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